Enclave Advisors LLC Buys Shares of 105,000 Kinross Gold Corporation $KGC

Enclave Advisors LLC purchased a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 105,000 shares of the mining company’s stock, valued at approximately $2,957,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in Kinross Gold during the second quarter valued at $389,025,000. Van ECK Associates Corp raised its position in shares of Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after purchasing an additional 7,825,336 shares during the last quarter. Man Group plc boosted its stake in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Bank of America Corp DE boosted its stake in Kinross Gold by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after purchasing an additional 3,617,320 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Kinross Gold during the 3rd quarter valued at about $80,299,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC opened at $28.68 on Friday. Kinross Gold Corporation has a one year low of $11.12 and a one year high of $39.11. The stock has a 50-day moving average of $33.20 and a 200 day moving average of $28.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The company has a market capitalization of $34.35 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.36 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted 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 net margin of 33.90% and a return on equity of 28.22%. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 EPS. On average, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 11th. Kinross Gold’s payout ratio is currently 8.16%.

Wall Street Analyst Weigh In

KGC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Finally, Desjardins started coverage on shares of Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

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.