Kinross Gold Co. (NYSE:KGC) Shares Purchased by Seven Eight Capital LP

Seven Eight Capital LP increased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1,522.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,055 shares of the mining company’s stock after acquiring an additional 188,663 shares during the period. Seven Eight Capital LP’s holdings in Kinross Gold were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Norges Bank purchased a new stake in shares of Kinross Gold in the 4th quarter valued at $265,327,000. Van ECK Associates Corp grew its position in Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after purchasing an additional 13,099,791 shares during the period. Boston Partners grew its holdings in Kinross Gold by 44.0% during the fourth quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after acquiring an additional 5,162,124 shares during the period. First Eagle Investment Management LLC purchased a new stake in Kinross Gold in the 1st quarter worth approximately $23,907,000. Finally, CIBC Asset Management Inc grew its stake in shares of Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock worth $26,990,000 after purchasing an additional 2,879,269 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE KGC traded down $0.18 during trading hours on Wednesday, hitting $8.85. 15,146,081 shares of the company’s stock traded hands, compared to its average volume of 15,189,801. The company has a market capitalization of $10.88 billion, a PE ratio of 25.00, a PEG ratio of 0.53 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. Kinross Gold Co. has a 52-week low of $4.32 and a 52-week high of $9.41. The firm’s 50-day moving average is $8.15 and its 200-day moving average is $6.66.

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 analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. Equities analysts forecast that Kinross Gold Co. will post 0.57 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KGC shares. Jefferies Financial Group increased their price target on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Scotiabank boosted their price target on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Finally, CIBC lifted their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Kinross Gold Company Profile

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.