Duality Advisers LP bought a new position in shares of Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,276 shares of the mining company’s stock, valued at approximately $116,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Ieq Capital LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth about $38,000. Quadrant Capital Group LLC raised its stake in Kinross Gold by 113.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 10,103 shares of the mining company’s stock valued at $38,000 after purchasing an additional 5,379 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Kinross Gold in the third quarter worth $39,000. Buckingham Strategic Wealth LLC bought a new stake in Kinross Gold during the third quarter worth approximately $44,000. Finally, International Assets Investment Management LLC acquired a new position in Kinross Gold during the 4th quarter worth $47,000. 55.58% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on KGC shares. Barclays cut shares of Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 target price for the company. in a research note on Monday, January 30th. Bank of America cut shares of Kinross Gold from a “buy” rating to an “underperform” rating and set a $4.70 price objective for the company. in a research report on Wednesday, April 5th. StockNews.com initiated coverage on shares of Kinross Gold in a report on Thursday, March 16th. They set a “hold” rating on the stock. TD Securities cut their price target on Kinross Gold from $6.50 to $6.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Finally, Raymond James increased their price objective on Kinross Gold from $4.50 to $5.00 and gave the company a “market perform” rating in a report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Hold” and a consensus target price of $6.33.
Kinross Gold Price Performance
Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last announced its quarterly earnings results on Thursday, February 16th. The mining company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Kinross Gold had a negative net margin of 17.18% and a positive return on equity of 4.58%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $962.80 million. During the same quarter in the previous year, the business posted $0.08 EPS. On average, research analysts anticipate that Kinross Gold Co. will post 0.31 earnings per share for the current year.
Kinross Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 8th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 7th. This represents a $0.12 annualized dividend and a dividend yield of 2.26%. Kinross Gold’s payout ratio is -25.53%.
Kinross Gold Company Profile
Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.
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