Ninepoint Partners LP Buys New Holdings in Kinross Gold Corporation (NYSE:KGC)

Ninepoint Partners LP bought a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 531,820 shares of the mining company's stock, valued at approximately $6,706,000. Kinross Gold makes up about 1.1% of Ninepoint Partners LP's holdings, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC lifted its position in Kinross Gold by 30.4% in the 4th 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. Farther Finance Advisors LLC raised its holdings in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Kinross Gold by 37.0% during the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

NYSE:KGC traded up $0.29 during midday trading on Friday, reaching $16.13. The stock had a trading volume of 28,107,900 shares, compared to its average volume of 15,320,698. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.52. The firm's fifty day simple moving average is $15.31 and its 200-day simple moving average is $13.31. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The stock has a market capitalization of $19.78 billion, a P/E ratio of 16.45, a PEG ratio of 0.58 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 (EPS) for the quarter, beating 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the business posted $0.10 EPS. Kinross Gold's revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.74%. Kinross Gold's dividend payout ratio is 12.24%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KGC. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. BMO Capital Markets began coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. CIBC raised their price target on shares of Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, Royal Bank Of Canada raised their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Two equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $18.00.

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.