10,800 Shares in Kinross Gold Corporation $KGC Acquired by SCP Investment LP

SCP Investment LP bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,800 shares of the mining company’s stock, valued at approximately $169,000.

Several other institutional investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Kinross Gold during the 1st quarter valued at $190,000. Avantax Advisory Services Inc. grew its holdings in shares of Kinross Gold by 20.4% during the first quarter. Avantax Advisory Services Inc. now owns 19,101 shares of the mining company’s stock worth $241,000 after purchasing an additional 3,241 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kinross Gold by 3.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,028,811 shares of the mining company’s stock valued at $12,960,000 after buying an additional 37,822 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Kinross Gold during the 1st quarter worth approximately $55,000. Finally, Bayforest Capital Ltd raised its stake in shares of Kinross Gold by 481.4% during the first quarter. Bayforest Capital Ltd now owns 42,397 shares of the mining company’s stock valued at $535,000 after acquiring an additional 35,105 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

NYSE:KGC opened at $27.41 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $27.84. The company has a fifty day moving average of $24.62 and a 200-day moving average of $19.74. The firm has a market capitalization of $33.09 billion, a P/E ratio of 22.11, a P/E/G ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

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

Analyst Ratings Changes

KGC has been the subject of a number of recent research reports. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. UBS Group upped their target price on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Scotiabank restated an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $27.69.

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.