Kinross Gold Corporation $KGC Shares Bought by MGO One Seven LLC

MGO One Seven LLC raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 397.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,829 shares of the mining company’s stock after buying an additional 32,617 shares during the period. MGO One Seven LLC’s holdings in Kinross Gold were worth $1,150,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Caitlin John LLC acquired a new stake in Kinross Gold in the 3rd quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in Kinross Gold in the 4th quarter worth about $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the 4th quarter worth about $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $29,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KGC. UBS Group decreased their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Scotiabank raised their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Trading Up 1.0%

KGC opened at $31.83 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The company’s 50 day simple moving average is $31.62 and its two-hundred day simple moving average is $30.29. Kinross Gold Corporation has a 1-year low of $13.28 and a 1-year high of $39.11. The firm has a market capitalization of $38.00 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 EPS. Analysts expect that Kinross Gold Corporation will post 2.9 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.