Genesis Financial Group LLC Acquires New Stake in Kinross Gold Corporation $KGC

Genesis Financial Group LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,700 shares of the mining company’s stock, valued at approximately $639,000.

A number of other institutional investors have also added to or reduced their stakes in KGC. Caitlin John LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at about $26,000. Virtus Advisers LLC bought a new position in shares of Kinross Gold in the third quarter worth approximately $28,000. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold in the third quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Kinross Gold in the third quarter valued at approximately $31,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 1.6%

Shares of KGC opened at $31.51 on Friday. Kinross Gold Corporation has a 1 year low of $11.12 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The stock has a 50 day simple moving average of $32.81 and a two-hundred day simple moving average of $28.89. The firm has a market cap of $37.74 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.57 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was up 42.9% compared to the same quarter last year. On average, analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, March 11th. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is 8.16%.

Analyst Ratings Changes

KGC has been the subject of a number of research reports. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research note on Wednesday, February 4th. TD Securities lowered their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. UBS Group dropped their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday, March 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a research report on Sunday, December 7th. Finally, Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Company 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.