Integrated Quantitative Investments LLC Buys Shares of 62,861 Kinross Gold Corporation $KGC

Integrated Quantitative Investments LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, HoldingsChannel reports. The firm purchased 62,861 shares of the mining company’s stock, valued at approximately $983,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Kinross Gold by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,559,632 shares of the mining company’s stock valued at $19,667,000 after acquiring an additional 92,996 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Kinross Gold by 38.6% in the first quarter. M&T Bank Corp now owns 14,825 shares of the mining company’s stock valued at $187,000 after purchasing an additional 4,132 shares in the last quarter. Cerity Partners LLC grew its position in shares of Kinross Gold by 11.6% in the first quarter. Cerity Partners LLC now owns 84,332 shares of the mining company’s stock valued at $1,063,000 after purchasing an additional 8,779 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Kinross Gold by 41.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,922 shares of the mining company’s stock worth $226,000 after purchasing an additional 5,223 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on KGC. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Canaccord Genuity Group increased their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Finally, UBS Group upped their price objective on shares of Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and an average price target of $27.56.

Kinross Gold Trading Down 0.2%

Shares of KGC stock opened at $25.47 on Friday. The firm’s 50-day simple moving average is $24.20 and its 200-day simple moving average is $19.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $27.84. The firm has a market cap of $30.81 billion, a P/E ratio of 20.54, a PEG ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly 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. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is presently 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.