Cvfg LLC Takes Position in Kinross Gold Corporation $KGC

Cvfg LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 49,258 shares of the mining company’s stock, valued at approximately $1,503,000.

Several other institutional investors and hedge funds have also made changes to their positions in KGC. Parallel Advisors LLC raised its position in Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after acquiring an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. lifted its holdings in shares of Kinross Gold by 6.6% in the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after purchasing an additional 473 shares during the last quarter. Armstrong Advisory Group Inc. grew its position in shares of Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after purchasing an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 3.5%

NYSE KGC opened at $23.86 on Wednesday. The company has a market cap of $28.37 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.87 and a beta of 0.78. Kinross Gold Corporation has a 12 month low of $15.04 and a 12 month high of $39.11. 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 has a 50-day moving average of $27.59 and a 200-day moving average of $30.66.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. Kinross Gold’s revenue was up 60.8% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders 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 dividend yield of 0.7%. Kinross Gold’s payout ratio is currently 6.78%.

Analysts Set New Price Targets

KGC has been the subject of several research reports. UBS Group cut their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. Jefferies Financial Group cut their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.56.

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.