Cvfg LLC Buys New Position in Kinross Gold Corporation $KGC

Cvfg LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 49,258 shares of the mining company’s stock, valued at approximately $1,503,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after acquiring an additional 18,287 shares during the last quarter. Caxton Associates LLP acquired a new stake in Kinross Gold during the 1st quarter worth $158,000. Sivia Capital Partners LLC acquired a new stake in Kinross Gold during the 2nd quarter worth $167,000. M&T Bank Corp grew its position in Kinross Gold by 9.0% during the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock worth $252,000 after purchasing an additional 1,328 shares during the last quarter. Finally, AXA S.A. purchased a new position in Kinross Gold during the 2nd quarter worth $2,483,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KGC. Jefferies Financial Group decreased their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday. UBS Group reduced their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.56.

Kinross Gold Stock Performance

NYSE:KGC opened at $23.86 on Wednesday. The firm’s fifty day simple moving average is $27.59 and its 200-day simple moving average is $30.66. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.37 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. Kinross Gold Corporation has a fifty-two week low of $15.04 and a fifty-two week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. Analysts expect that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s payout ratio is 6.78%.

About Kinross Gold

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.