Y Intercept Hong Kong Ltd Buys New Shares in Kinross Gold Corporation $KGC

Y Intercept Hong Kong Ltd bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 292,251 shares of the mining company’s stock, valued at approximately $8,920,000.

Several other institutional investors also recently modified their holdings of KGC. V Square Quantitative Management LLC bought a new stake in shares of Kinross Gold during the 4th quarter worth $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold during the fourth quarter worth $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the third quarter valued at $28,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the last quarter. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold in the 4th quarter valued at $36,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC stock opened at $24.68 on Friday. The firm has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $30.69. Kinross Gold Corporation has a 52 week low of $15.04 and a 52 week high of $39.11. The stock has a market cap of $29.34 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. Research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is currently 6.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. UBS Group reduced their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.94.

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.