Cape Ann Asset Management Ltd Grows Stake in Kinross Gold Corporation $KGC

Cape Ann Asset Management Ltd increased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,538,238 shares of the mining company’s stock after buying an additional 30,300 shares during the quarter. Kinross Gold comprises about 27.1% of Cape Ann Asset Management Ltd’s portfolio, making the stock its biggest position. Cape Ann Asset Management Ltd owned approximately 0.29% of Kinross Gold worth $99,637,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after purchasing an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. lifted its holdings in shares of Kinross Gold by 6.6% in the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after purchasing an additional 393 shares in the last quarter. Armstrong Advisory Group Inc. lifted its holdings in shares of Kinross Gold by 32.9% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after purchasing an additional 483 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares in the last quarter. Finally, Cadence Wealth Management LLC lifted its stake in Kinross Gold by 1.3% during the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after acquiring an additional 581 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 2.8%

Kinross Gold stock opened at $25.56 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The business’s fifty day simple moving average is $30.23 and its two-hundred day simple moving average is $30.91. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11. The company has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.88 and a beta of 0.71.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given 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 0.6%. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. UBS Group decreased their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

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.