Thoroughbred Financial Services LLC Buys New Shares in Kinross Gold Corporation $KGC

Thoroughbred Financial Services LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,866 shares of the mining company’s stock, valued at approximately $443,000.

Other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after acquiring an additional 18,287 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Kinross Gold during the first quarter valued at $158,000. Sivia Capital Partners LLC purchased a new stake in shares of Kinross Gold during the second quarter valued at $167,000. Envestnet Asset Management Inc. boosted its position in shares of Kinross Gold by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 661,549 shares of the mining company’s stock valued at $10,340,000 after purchasing an additional 43,819 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new position in Kinross Gold in the 2nd quarter worth about $273,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Scotiabank upped their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a research note on Friday, January 30th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.81.

Kinross Gold Trading Up 0.5%

Kinross Gold stock opened at $36.93 on Friday. Kinross Gold Corporation has a 12 month low of $10.32 and a 12 month high of $39.11. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The stock has a market cap of $44.31 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.38 and a beta of 0.74. The company’s fifty day simple moving average is $33.00 and its 200-day simple moving average is $27.20.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is currently 7.14%.

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.