Y Intercept Hong Kong Ltd bought a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 257,474 shares of the mining company's stock, valued at approximately $2,410,000.
Several other hedge funds and other institutional investors also recently modified their holdings of KGC. MML Investors Services LLC purchased a new stake in Kinross Gold in the third quarter worth approximately $201,000. K2 Principal Fund L.P. lifted its holdings in shares of Kinross Gold by 388.9% in the 3rd quarter. K2 Principal Fund L.P. now owns 23,400 shares of the mining company's stock worth $219,000 after acquiring an additional 31,500 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at $783,000. DF Dent & Co. Inc. bought a new position in shares of Kinross Gold during the 3rd quarter valued at $374,000. Finally, National Bank of Canada FI raised its position in Kinross Gold by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company's stock worth $90,022,000 after purchasing an additional 70,376 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.
Kinross Gold Stock Up 1.6 %
NYSE:KGC traded up $0.16 during trading hours on Tuesday, reaching $10.08. 16,901,584 shares of the company traded hands, compared to its average volume of 15,498,418. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The business's 50-day moving average price is $9.95 and its two-hundred day moving average price is $9.10. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a market capitalization of $12.39 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.44 and a beta of 1.22.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. Kinross Gold's revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. Analysts predict that Kinross Gold Co. will post 0.7 earnings per share for the current year.
Kinross Gold Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.19%. Kinross Gold's dividend payout ratio (DPR) is presently 19.67%.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Scotiabank raised their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research note on Monday, August 19th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $11.13.
Get Our Latest Analysis on Kinross Gold
Kinross Gold Company Profile
(
Free Report)
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.
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