Thoroughbred Financial Services LLC Takes $443,000 Position in Kinross Gold Corporation $KGC

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

A number of other large investors have also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Kinross Gold in the third quarter worth $31,000. Armstrong Advisory Group Inc. boosted its holdings in shares of Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after buying an additional 717 shares during the period. Hollencrest Capital Management acquired a new position in Kinross Gold in the 3rd quarter valued at $40,000. Finally, Mather Group LLC. bought a new position in Kinross Gold in the 3rd quarter worth $44,000. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th. UBS Group set a $43.00 price target on Kinross Gold in a research report on Friday, January 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $36.93 on Friday. The firm has a market cap of $44.31 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 0.38 and a beta of 0.74. The firm’s 50-day simple moving average is $33.00 and its 200-day simple moving average is $27.20. Kinross Gold Corporation has a twelve month low of $10.32 and a twelve month high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35.

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, topping analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $0.20 earnings per share. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. As a group, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

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

Kinross Gold Company 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.