Louisbourg Investments Inc. Reduces Stock Position in Kinross Gold Co. (NYSE:KGC)

Louisbourg Investments Inc. lessened its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,900 shares of the mining company’s stock after selling 25,600 shares during the quarter. Louisbourg Investments Inc.’s holdings in Kinross Gold were worth $3,240,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Kinross Gold in the first quarter valued at $945,000. Janney Montgomery Scott LLC increased its holdings in Kinross Gold by 28.6% in the first quarter. Janney Montgomery Scott LLC now owns 100,505 shares of the mining company’s stock valued at $1,267,000 after buying an additional 22,354 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Kinross Gold by 10.4% in the first quarter. Ritholtz Wealth Management now owns 214,301 shares of the mining company’s stock valued at $2,702,000 after buying an additional 20,161 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in Kinross Gold by 49.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 56,124 shares of the mining company’s stock valued at $708,000 after buying an additional 18,514 shares during the last quarter. Finally, Union Bancaire Privee UBP SA boosted its stake in Kinross Gold by 265.3% in the first quarter. Union Bancaire Privee UBP SA now owns 214,350 shares of the mining company’s stock valued at $2,602,000 after acquiring an additional 155,670 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC opened at $15.57 on Tuesday. Kinross Gold Co. has a fifty-two week low of $7.20 and a fifty-two week high of $15.96. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63. The firm has a 50-day simple moving average of $14.64 and a 200-day simple moving average of $12.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 38.5% compared to the same quarter last year. On average, equities research analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Kinross Gold’s payout ratio is currently 12.24%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KGC. Scotiabank upped their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 8th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Finally, Raymond James upped their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.40.

Kinross Gold Company 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.