Louisbourg Investments Inc. Reduces Holdings in Kinross Gold Corporation (NYSE:KGC)

Louisbourg Investments Inc. reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,900 shares of the mining company's stock after selling 25,600 shares during the period. Louisbourg Investments Inc.'s holdings in Kinross Gold were worth $3,240,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in shares of Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after buying an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold during the 4th quarter valued at $42,000. Global Retirement Partners LLC increased its holdings in Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock worth $50,000 after buying an additional 4,788 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares during the period. Institutional investors own 63.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on KGC. CIBC restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Raymond James Financial boosted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research report on Friday, April 4th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $15.40.

Kinross Gold Price Performance

Shares of KGC stock traded down $0.08 during trading hours on Friday, hitting $15.45. The stock had a trading volume of 22,782,692 shares, compared to its average volume of 21,903,178. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. Kinross Gold Corporation has a one year low of $7.49 and a one year high of $15.96. The stock's 50-day moving average price is $14.78 and its two-hundred day moving average price is $12.28. The stock has a market capitalization of $18.95 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.66 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business's quarterly revenue was up 38.5% on a year-over-year basis. Equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's payout ratio is 12.24%.

Kinross Gold 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.