SCP Investment LP Purchases New Position in Kinross Gold Corporation $KGC

SCP Investment LP bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the second quarter, Holdings Channel reports. The institutional investor bought 10,800 shares of the mining company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold in the 1st quarter worth approximately $55,000. Headlands Technologies LLC bought a new stake in Kinross Gold during the first quarter worth $77,000. MAI Capital Management boosted its position in Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after purchasing an additional 907 shares during the last quarter. IFP Advisors Inc grew its stake in Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares during the period. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Kinross Gold during the 1st quarter valued at $84,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 5.1%

Shares of NYSE KGC opened at $27.41 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $27.84. The firm has a market capitalization of $33.09 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The firm has a fifty day simple moving average of $24.62 and a two-hundred day simple moving average of $19.74.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Equities analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s payout ratio is 9.79%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. UBS Group upped their price target on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. CIBC lifted their price objective on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Raymond James Financial upped their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $27.69.

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.