Strategic Investment Advisors MI Buys Shares of 18,939 Kinross Gold Corporation (NYSE:KGC)

Strategic Investment Advisors MI acquired a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 18,939 shares of the mining company's stock, valued at approximately $239,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Kinross Gold in the fourth quarter worth $280,697,000. Man Group plc increased its stake in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after acquiring an additional 5,871,904 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock valued at $116,898,000 after acquiring an additional 5,639,383 shares during the period. Renaissance Technologies LLC boosted its stake in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after acquiring an additional 3,224,455 shares in the last quarter. Finally, Merewether Investment Management LP bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $23,765,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock traded up $0.53 during trading on Thursday, hitting $15.84. 21,809,603 shares of the company's stock traded hands, compared to its average volume of 18,755,186. Kinross Gold Corporation has a 1 year low of $7.52 and a 1 year high of $16.04. The business has a 50-day simple moving average of $14.84 and a 200-day simple moving average of $12.43. The stock has a market capitalization of $19.43 billion, a P/E ratio of 16.16, a PEG ratio of 0.63 and a beta of 0.63. 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 (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 the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. As a group, analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KGC shares. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the company from $14.00 to $18.00 in a report on Thursday. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Scotiabank increased their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.00.

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.