Entropy Technologies LP Has $6.93 Million Stock Holdings in Kinross Gold Corporation $KGC

Entropy Technologies LP lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 59.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,967 shares of the mining company’s stock after purchasing an additional 84,273 shares during the period. Entropy Technologies LP’s holdings in Kinross Gold were worth $6,927,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in Kinross Gold in the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $28,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold in the 1st quarter valued at $29,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of KGC opened at $23.86 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a 50 day moving average price of $25.74 and a two-hundred day moving average price of $30.17. The firm has a market capitalization of $28.30 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.64 and a beta of 0.78. Kinross Gold Corporation has a 52 week low of $15.37 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. Equities analysts forecast that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada dropped their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Zacks Research cut shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, UBS Group decreased their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.31.

About Kinross Gold

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.