Kinross Gold Corporation $KGC Shares Purchased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Kinross Gold Corporation by 30.2% during the second quarter, acquiring an additional 12,821 shares, bringing its total to 55,218 shares valued at $863,000.
• Kinross Gold reported a 41.7% year-over-year increase in revenue for the last quarter, totaling $1.75 billion, and surpassed earnings estimates with an EPS of $0.44.
• The company announced a quarterly dividend of $0.03 per share, reflecting a 0.5% yield with a payout ratio of 9.68%.

Bayforest Capital Ltd raised its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 30.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,218 shares of the mining company's stock after purchasing an additional 12,821 shares during the quarter. Bayforest Capital Ltd's holdings in Kinross Gold were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc grew its stake in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Cresset Asset Management LLC grew its stake in Kinross Gold by 3.0% during the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after purchasing an additional 1,013 shares in the last quarter. US Bancorp DE grew its stake in Kinross Gold by 2.0% during the 2nd quarter. US Bancorp DE now owns 55,320 shares of the mining company's stock valued at $865,000 after purchasing an additional 1,103 shares in the last quarter. S.A. Mason LLC grew its stake in Kinross Gold by 6.0% during the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock valued at $281,000 after purchasing an additional 1,250 shares in the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in Kinross Gold by 12.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock valued at $142,000 after purchasing an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Trading Up 5.1%

NYSE:KGC opened at $25.49 on Tuesday. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $25.91. The firm has a market capitalization of $30.91 billion, a P/E ratio of 20.56, a P/E/G ratio of 0.77 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The business has a 50 day simple moving average of $21.97 and a 200 day simple moving average of $17.33.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business's revenue for the quarter was up 41.7% compared to the same quarter last year. Equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold's payout ratio is presently 9.68%.

Analyst Upgrades and Downgrades

KGC has been the subject of several research reports. TD Securities lifted their target price on Kinross Gold from $22.00 to $30.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. UBS Group lifted their target price on Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and lifted their target price for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, Raymond James Financial lifted their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $25.19.

Kinross Gold Company Profile

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.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.