Cape Ann Asset Management Ltd Grows Position in Kinross Gold Corporation $KGC

Cape Ann Asset Management Ltd lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,771,084 shares of the mining company’s stock after purchasing an additional 232,846 shares during the period. Kinross Gold accounts for 26.1% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its biggest holding. Cape Ann Asset Management Ltd’s holdings in Kinross Gold were worth $115,093,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold during the 4th quarter worth $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold in the 3rd quarter worth about $28,000. Ascentis Independent Advisors purchased a new stake in Kinross Gold in the 1st quarter worth about $29,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares during the period. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KGC. Scotiabank dropped their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. UBS Group reduced their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, Royal Bank Of Canada cut their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Trading Up 0.8%

NYSE KGC opened at $23.86 on Friday. 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’s 50-day simple moving average is $25.74 and its two-hundred day simple moving average is $30.17. Kinross Gold Corporation has a twelve month low of $15.37 and a twelve month high of $39.11. The company has a market capitalization of $28.30 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 EPS. Research analysts forecast that Kinross Gold Corporation will post 2.65 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

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.