Havemeyer Place LP Invests $1.18 Million in Kinross Gold Corporation $KGC

Havemeyer Place LP purchased a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 41,806 shares of the mining company’s stock, valued at approximately $1,177,000.

Several other hedge funds have also recently bought and sold shares of KGC. Caitlin John LLC bought a new stake in Kinross Gold in the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the 4th quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC bought a new stake in Kinross Gold in the 3rd quarter valued at about $28,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. 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 company from $36.00 to $45.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Down 0.3%

Kinross Gold stock opened at $26.15 on Monday. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.93 and a beta of 0.71. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $30.68 and its two-hundred day moving average price is $30.95. Kinross Gold Corporation has a 52 week low of $14.71 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its 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 analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. On average, analysts expect that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Kinross Gold Profile

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.