Winmill & CO. Inc. Purchases 16,000 Shares of Kinross Gold Corporation $KGC

Winmill & CO. Inc. grew its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 815,500 shares of the mining company’s stock after acquiring an additional 16,000 shares during the quarter. Kinross Gold comprises approximately 3.5% of Winmill & CO. Inc.’s holdings, making the stock its 12th largest holding. Winmill & CO. Inc. owned 0.07% of Kinross Gold worth $12,746,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Kinross Gold by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 661,549 shares of the mining company’s stock valued at $10,340,000 after buying an additional 43,819 shares during the period. MQS Management LLC purchased a new stake in Kinross Gold during the 2nd quarter valued at $303,000. Catalyst Capital Advisors LLC purchased a new stake in Kinross Gold during the 2nd quarter valued at $233,000. R Squared Ltd raised its holdings in Kinross Gold by 54.3% during the 2nd quarter. R Squared Ltd now owns 26,348 shares of the mining company’s stock valued at $412,000 after buying an additional 9,268 shares during the period. Finally, Carnegie Investment Counsel purchased a new stake in Kinross Gold during the 2nd quarter valued at $213,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC stock opened at $23.95 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The business’s fifty day simple moving average is $23.07 and its two-hundred day simple moving average is $18.13. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $27.84. The firm has a market cap of $28.97 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 0.47 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s revenue was up 41.7% compared to the same quarter last year. Analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm 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. The ex-dividend date was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KGC. Canaccord Genuity Group increased their price target on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a report on Thursday. Raymond James Financial increased their price target on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Finally, CIBC increased their price target on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Four equities research 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 company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $27.56.

Kinross Gold 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.