MGO One Seven LLC Grows Stock Position in Kinross Gold Corporation $KGC

MGO One Seven LLC increased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 397.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,829 shares of the mining company’s stock after buying an additional 32,617 shares during the quarter. MGO One Seven LLC’s holdings in Kinross Gold were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in KGC. AQR Capital Management LLC raised its position 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 valued at $887,000 after buying an additional 18,287 shares during the period. Caxton Associates LLP purchased a new stake in shares of Kinross Gold during the 1st quarter valued at approximately $158,000. Sivia Capital Partners LLC purchased a new stake in Kinross Gold in the second quarter valued at approximately $167,000. M&T Bank Corp raised its position in Kinross Gold by 9.0% in the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after purchasing an additional 1,328 shares during the period. Finally, AXA S.A. purchased a new stake in Kinross Gold in the second quarter valued at approximately $2,483,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of research analyst reports. Scotiabank boosted their target price on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings lowered Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a research report on Friday, May 1st. Finally, UBS Group cut their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned 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 an average target price of $38.81.

Kinross Gold Stock Up 1.0%

Shares of NYSE KGC opened at $31.83 on Tuesday. The business’s 50 day moving average is $31.62 and its two-hundred day moving average is $30.29. The firm has a market cap of $38.00 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.14 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52-week low of $13.28 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Research analysts predict that Kinross Gold Corporation will post 2.9 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s payout ratio is 6.78%.

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.