Advisor Resource Council Takes $60,000 Position in Kinross Gold Co. (NYSE:KGC)

Advisor Resource Council acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 1st quarter, Holdings Channel reports. The firm acquired 10,000 shares of the mining company’s stock, valued at approximately $60,000.

Several other hedge funds also recently modified their holdings of the business. 180 Wealth Advisors LLC boosted its position in shares of Kinross Gold by 6.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock valued at $225,000 after acquiring an additional 2,157 shares during the period. Crossmark Global Holdings Inc. lifted its position in Kinross Gold by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after purchasing an additional 2,204 shares during the period. Metis Global Partners LLC lifted its position in Kinross Gold by 7.6% in the fourth quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock worth $259,000 after purchasing an additional 3,018 shares during the period. Signaturefd LLC lifted its position in Kinross Gold by 7.7% in the fourth quarter. Signaturefd LLC now owns 42,585 shares of the mining company’s stock worth $258,000 after purchasing an additional 3,048 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its position in Kinross Gold by 4.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 81,666 shares of the mining company’s stock worth $494,000 after purchasing an additional 3,500 shares during the period. 63.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on KGC shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Scotiabank raised their target price on Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets increased their price objective on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.59.

Kinross Gold Price Performance

Shares of NYSE:KGC traded up $0.27 during midday trading on Thursday, reaching $8.29. The company’s stock had a trading volume of 8,111,187 shares, compared to its average volume of 15,992,394. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $8.42. The company has a market capitalization of $10.19 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The business’s fifty day simple moving average is $7.61 and its 200-day simple moving average is $6.38.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share. As a group, equities research analysts expect that Kinross Gold Co. will post 0.52 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold’s dividend payout ratio is 30.56%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.