Inspire Advisors LLC Takes $782,000 Position in Kinross Gold Corporation $KGC

Inspire Advisors LLC purchased a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,009 shares of the mining company’s stock, valued at approximately $782,000.

A number of other institutional investors have also made changes to their positions in KGC. Banque Cantonale Vaudoise acquired a new position in Kinross Gold in the first quarter valued at about $55,000. Headlands Technologies LLC bought a new stake in shares of Kinross Gold in the 1st quarter valued at about $77,000. IFP Advisors Inc raised its position in shares of Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after acquiring an additional 835 shares during the period. Wealth Preservation Advisors LLC bought a new position in Kinross Gold during the 1st quarter worth approximately $84,000. Finally, Arista Wealth Management LLC bought a new position in Kinross Gold during the 2nd quarter worth approximately $156,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KGC shares. UBS Group increased their target price on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Raymond James Financial upped their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Cormark downgraded Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. CIBC lifted their target price on Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. 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 issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and a consensus price target of $27.56.

Kinross Gold Trading Up 1.8%

Shares of NYSE:KGC opened at $25.39 on Wednesday. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $27.84. The company’s fifty day simple moving average is $24.31 and its 200 day simple moving average is $19.33. 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 (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share 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 firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business earned $0.24 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.035 per share. The ex-dividend date is Wednesday, November 26th. This is a boost 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 0.6%. Kinross Gold’s dividend payout ratio is 9.79%.

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.