Counterpoint Mutual Funds LLC Acquires New Position in Kinross Gold Corporation $KGC

Counterpoint Mutual Funds LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 94,235 shares of the mining company’s stock, valued at approximately $2,342,000.

Several other large investors have also added to or reduced their stakes in KGC. GPS Wealth Strategies Group LLC bought a new stake in shares of Kinross Gold during the 3rd quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Kinross Gold in the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. raised its holdings in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the period. Hollencrest Capital Management purchased a new position in shares of Kinross Gold in the third quarter valued at about $40,000. Finally, Mather Group LLC. bought a new position in shares of Kinross Gold in the third quarter worth about $44,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KGC. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Desjardins began coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Trading Up 6.1%

KGC opened at $35.48 on Tuesday. The firm has a market cap of $42.56 billion, a P/E ratio of 18.10, a P/E/G ratio of 0.35 and a beta of 0.74. Kinross Gold Corporation has a 12 month low of $10.32 and a 12 month high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $32.33 and a 200 day moving average of $26.83.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period last year, the company earned $0.20 EPS. As a group, research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 0.5%. Kinross Gold’s payout ratio is presently 7.14%.

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.