14,900 Shares in Kinross Gold Corporation $KGC Purchased by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, Holdings Channel.com reports. The firm purchased 14,900 shares of the mining company’s stock, valued at approximately $233,000.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock worth $603,829,000 after purchasing an additional 561,563 shares in the last quarter. Boston Partners raised its position in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock worth $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kinross Gold by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company’s stock worth $126,378,000 after acquiring an additional 603,388 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Kinross Gold by 15.9% during the second quarter. Allianz Asset Management GmbH now owns 8,048,760 shares of the mining company’s stock worth $125,409,000 after purchasing an additional 1,101,704 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after acquiring an additional 3,398,687 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC stock opened at $23.95 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $28.97 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The stock’s 50 day simple moving average is $23.07 and its 200 day simple moving average is $18.05.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. Kinross Gold’s quarterly revenue was up 41.7% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

Analysts Set New Price Targets

KGC has been the subject of several recent research reports. CIBC increased their price target on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. TD Securities lifted their target price on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial upped their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $27.56.

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.