Gamco Investors INC. ET AL Has $12.71 Million Position in Kinross Gold Corporation $KGC

Gamco Investors INC. ET AL lessened its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 416,500 shares of the mining company’s stock after selling 89,400 shares during the period. Gamco Investors INC. ET AL’s holdings in Kinross Gold were worth $12,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold during the 4th quarter worth about $26,000. Ascentis Independent Advisors bought a new stake in Kinross Gold during the 1st quarter worth about $29,000. Virtus Advisers LLC bought a new stake in Kinross Gold during the 3rd quarter worth about $28,000. Finally, Elevated Capital Advisors LLC acquired a new stake in Kinross Gold in the 4th quarter valued at about $36,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in 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 decreased their price target on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Zacks Research cut shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group reduced their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Price Performance

Shares of KGC stock opened at $23.86 on Friday. The firm has a market cap of $28.30 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.64 and a beta of 0.78. Kinross Gold Corporation has a 12 month low of $15.37 and a 12 month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $25.74 and a 200 day moving average price of $30.17.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) 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 the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS. Research analysts expect that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s payout ratio is 6.78%.

Kinross Gold Profile

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.