GeoSphere Capital Management LLC Decreases Position in Kinross Gold Co. (NYSE:KGC)

GeoSphere Capital Management LLC cut its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 56.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 306,600 shares of the mining company’s stock after selling 400,000 shares during the period. Kinross Gold makes up 1.3% of GeoSphere Capital Management LLC’s portfolio, making the stock its 11th largest position. GeoSphere Capital Management LLC’s holdings in Kinross Gold were worth $2,842,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Kinross Gold by 354.9% in the 3rd quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock valued at $450,000 after acquiring an additional 37,502 shares during the last quarter. Franklin Resources Inc. lifted its position in Kinross Gold by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,080,957 shares of the mining company’s stock valued at $10,804,000 after purchasing an additional 6,634 shares during the last quarter. Aprio Wealth Management LLC purchased a new stake in shares of Kinross Gold during the fourth quarter valued at approximately $133,000. Fiduciary Financial Group LLC bought a new position in shares of Kinross Gold in the fourth quarter worth approximately $275,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Kinross Gold in the fourth quarter worth $202,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on KGC. CIBC raised their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Scotiabank boosted their price target on Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday. Raymond James increased their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th. BMO Capital Markets began coverage on Kinross Gold in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus price target of $13.50.

Kinross Gold Trading Up 1.9 %

NYSE KGC opened at $15.05 on Friday. The stock’s 50 day moving average is $13.18 and its 200 day moving average is $11.32. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $18.52 billion, a PE ratio of 19.55, a P/E/G ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a twelve month low of $7.20 and a twelve month high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. Kinross Gold’s dividend payout ratio is currently 15.58%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.