Kercheville Advisors LLC Takes $488,000 Position in Kinross Gold Corporation $KGC

Kercheville Advisors LLC acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,650 shares of the mining company’s stock, valued at approximately $488,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KGC. Osaic Holdings Inc. lifted its holdings in Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after acquiring an additional 102,348 shares during the last quarter. U S Global Investors Inc. raised its holdings in shares of Kinross Gold by 60.5% in the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after purchasing an additional 157,334 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after purchasing an additional 3,398,687 shares in the last quarter. Ninety One North America Inc. acquired a new stake in Kinross Gold during the third quarter valued at approximately $13,438,000. Finally, Schroder Investment Management Group boosted its holdings in Kinross Gold by 19.6% during the second quarter. Schroder Investment Management Group now owns 2,525,188 shares of the mining company’s stock worth $39,469,000 after buying an additional 413,771 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $28.26 on Monday. The stock has a market cap of $34.01 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.30 and a beta of 0.75. The business has a fifty day simple moving average of $26.50 and a 200-day simple moving average of $22.31. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 12 month low of $9.64 and a 12 month high of $29.90.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s payout ratio is currently 9.79%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KGC. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Raymond James Financial lifted their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. CIBC upped their target price on Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.81.

Kinross Gold 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.