Y Intercept Hong Kong Ltd Makes New $8.92 Million Investment in Kinross Gold Corporation $KGC

Y Intercept Hong Kong Ltd bought a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 1st quarter, HoldingsChannel.com reports. The fund bought 292,251 shares of the mining company’s stock, valued at approximately $8,920,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in shares of Kinross Gold in the 4th quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new position in Kinross Gold in the fourth quarter worth approximately $26,000. Virtus Advisers LLC bought a new position in Kinross Gold during the third quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd raised its position in Kinross Gold by 85.2% during the third 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. Finally, Elevated Capital Advisors LLC acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $36,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of several recent research reports. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, UBS Group lowered their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.94.

Kinross Gold Stock Down 0.1%

KGC opened at $24.68 on Friday. The firm has a market cap of $29.34 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. 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 business has a 50 day moving average price of $27.92 and a 200 day moving average price of $30.69. Kinross Gold Corporation has a twelve month low of $15.04 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. Research analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio is currently 6.78%.

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.