Cape Ann Asset Management Ltd Has $87.17 Million Stock Holdings in Kinross Gold Corporation $KGC

Cape Ann Asset Management Ltd trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,507,938 shares of the mining company’s stock after selling 41,700 shares during the period. Kinross Gold comprises 29.4% of Cape Ann Asset Management Ltd’s holdings, making the stock its biggest holding. Cape Ann Asset Management Ltd owned approximately 0.29% of Kinross Gold worth $87,172,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KGC. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Kinross Gold during the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. grew its position in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the last quarter. Hollencrest Capital Management purchased a new stake in Kinross Gold in the third quarter worth $40,000. Finally, Mather Group LLC. bought a new stake in shares of Kinross Gold during the third quarter worth $44,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $33.42 on Friday. The firm has a 50 day moving average of $32.18 and a 200 day moving average of $26.59. The company has a quick ratio of 1.68, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $40.10 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a 52 week low of $10.32 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The business’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. On average, sell-side analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s dividend payout ratio is presently 7.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. Finally, UBS Group set a $43.00 target price on Kinross Gold in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

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.