Entropy Technologies LP Invests $1.26 Million in Kinross Gold Co. (NYSE:KGC)

Entropy Technologies LP purchased a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 134,490 shares of the mining company’s stock, valued at approximately $1,259,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KGC. Fiera Capital Corp acquired a new stake in Kinross Gold in the 3rd quarter valued at about $99,000. Intact Investment Management Inc. purchased a new stake in shares of Kinross Gold in the third quarter valued at approximately $340,000. US Bancorp DE increased its holdings in shares of Kinross Gold by 33.4% in the third quarter. US Bancorp DE now owns 45,521 shares of the mining company’s stock valued at $426,000 after purchasing an additional 11,394 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Kinross Gold by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after buying an additional 1,235 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Kinross Gold during the third quarter worth $319,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 2.2 %

NYSE KGC opened at $9.30 on Thursday. The firm’s 50-day moving average is $9.77 and its two-hundred day moving average is $8.77. The stock has a market capitalization of $11.42 billion, a P/E ratio of 15.24, a PEG ratio of 0.47 and a beta of 1.22. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.69 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KGC. Jefferies Financial Group raised their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank boosted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

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.