Kinross Gold Corporation $KGC Shares Bought by Sprott Inc.

Key Points

• Sprott Inc. has increased its holdings in Kinross Gold Corporation by 1.7%, acquiring an additional 48,905 shares, bringing its total ownership to approximately 2.93 million shares valued at $36.98 million.
• Kinross Gold reported strong earnings with $0.44 per share, exceeding analyst expectations of $0.33, and a revenue of $1.75 billion for the quarter, marking a 41.7% increase year-over-year.
• The company announced a quarterly dividend of $0.03 per share, which will be paid on September 4th, reflecting a yield of 0.6% and a payout ratio of 9.68%

Sprott Inc. raised its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,932,567 shares of the mining company's stock after buying an additional 48,905 shares during the period. Kinross Gold makes up approximately 2.0% of Sprott Inc.'s portfolio, making the stock its 14th largest position. Sprott Inc. owned 0.24% of Kinross Gold worth $36,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Kinross Gold in the 1st quarter valued at approximately $55,000. Farther Finance Advisors LLC boosted 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 valued at $71,000 after buying an additional 3,659 shares during the period. Headlands Technologies LLC purchased a new position in Kinross Gold in the 1st quarter valued at approximately $77,000. Bruce G. Allen Investments LLC boosted 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 valued at $79,000 after buying an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. boosted 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 valued at $80,000 after buying an additional 1,787 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Up 2.6%

NYSE:KGC traded up $0.52 during midday trading on Tuesday, hitting $20.24. 13,993,550 shares of the company were exchanged, compared to its average volume of 20,723,398. The company has a fifty day simple moving average of $16.72 and a 200 day simple moving average of $14.47. Kinross Gold Corporation has a fifty-two week low of $8.31 and a fifty-two week high of $20.26. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $24.60 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.55.

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

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on KGC shares. 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 research report on Wednesday, June 4th. Scotiabank lifted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. CIBC lifted their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Canaccord Genuity Group lifted their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Buy" and a consensus price target of $20.07.

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.