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

Havemeyer Place LP acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 41,806 shares of the mining company’s stock, valued at approximately $1,177,000.

Other hedge funds also recently made changes to their positions in the company. Korea Investment CORP boosted its holdings in shares of Kinross Gold by 372.4% during the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock worth $81,793,000 after purchasing an additional 2,597,455 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Kinross Gold by 3.2% during the third quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock worth $1,259,280,000 after purchasing an additional 1,553,594 shares during the period. TD Asset Management Inc boosted its holdings in shares of Kinross Gold by 4.7% during the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the period. FORA Capital LLC acquired a new stake in shares of Kinross Gold during the third quarter worth approximately $2,060,000. Finally, Regal Partners Ltd boosted its holdings in shares of Kinross Gold by 79.9% during the third quarter. Regal Partners Ltd now owns 977,243 shares of the mining company’s stock worth $24,284,000 after purchasing an additional 433,953 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC opened at $26.15 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $31.19 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 0.93 and a beta of 0.71. The company has a 50 day moving average price of $30.68 and a two-hundred day moving average price of $30.95. Kinross Gold Corporation has a 12-month low of $14.71 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted 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. The firm had revenue of $2.37 billion during 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%. The company’s revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. As a group, equities analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on KGC. UBS Group decreased their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday, March 27th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. TD Securities decreased their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada upgraded shares of 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 report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

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.