Atlas Capital Advisors Inc. Acquires Shares of 28,558 Kinross Gold Corporation $KGC

Atlas Capital Advisors Inc. acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 28,558 shares of the mining company’s stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC purchased a new position in Kinross Gold in the third quarter valued at $26,000. V Square Quantitative Management LLC purchased a new position in Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold in the fourth quarter valued at $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the third quarter valued at $28,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of 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 purchasing an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE:KGC opened at $25.56 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.90 and a beta of 0.71. The company’s 50-day moving average is $30.23 and its two-hundred day moving average is $30.94. Kinross Gold Corporation has a 1-year low of $14.71 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold’s revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. Analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KGC. TD Securities cut their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

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.