Navellier & Associates Inc. Boosts Stock Position in Kinross Gold Corporation $KGC

Navellier & Associates Inc. boosted its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 580,119 shares of the mining company’s stock after purchasing an additional 54,875 shares during the period. Kinross Gold makes up about 1.1% of Navellier & Associates Inc.’s holdings, making the stock its 19th largest holding. Navellier & Associates Inc.’s holdings in Kinross Gold were worth $13,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the third quarter worth about $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold in the first quarter valued at approximately $29,000. Caitlin John LLC boosted its position in Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Harvest Fund Management Co. Ltd boosted 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 worth $32,000 after acquiring an additional 589 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in Kinross Gold in the 3rd quarter worth approximately $38,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $31.30 on Friday. Kinross Gold Corporation has a one year low of $20.19 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The company has a 50 day moving average price of $25.78 and a 200 day moving average price of $29.13. The firm has a market capitalization of $37.13 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold’s revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Sell-side analysts anticipate that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Analyst Ratings Changes

KGC has been the subject of several analyst reports. Scotiabank cut their price target on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group decreased 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. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Company 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.