Campbell & CO Investment Adviser LLC Buys 23,557 Shares of Kinross Gold Corporation $KGC

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Kinross Gold by 20.0% during the first quarter, holding 141,271 shares valued at $1.78 million.
• The company reported $0.44 earnings per share for the last quarter, surpassing analysts' expectations and showing a year-over-year revenue growth of 41.7%.
• Kinross Gold announced a $0.03 quarterly dividend, reflecting an annualized dividend yield of 0.6% and a payout ratio of 9.68%.

Campbell & CO Investment Adviser LLC grew its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,271 shares of the mining company's stock after purchasing an additional 23,557 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Kinross Gold were worth $1,781,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Kinross Gold in the 1st quarter worth about $55,000. Farther Finance Advisors LLC increased its position in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the last quarter. Headlands Technologies LLC acquired a new position in Kinross Gold in the 1st quarter worth about $77,000. Bruce G. Allen Investments LLC increased its position in Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Shares of KGC stock traded up $0.71 during mid-day trading on Friday, reaching $20.93. The stock had a trading volume of 18,160,247 shares, compared to its average volume of 20,603,797. The firm's 50 day simple moving average is $17.00 and its 200 day simple moving average is $14.61. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $20.97. The firm has a market cap of $25.44 billion, a PE ratio of 16.88, a P/E/G ratio of 0.67 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $0.14 EPS. The company's quarterly revenue was up 41.7% on a year-over-year basis. On average, analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.03 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group started coverage on Kinross Gold in a research report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price on the stock. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Royal Bank Of Canada increased their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Canaccord Genuity Group increased their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $20.07.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.