FORA Capital LLC Invests $2.06 Million in Kinross Gold Corporation $KGC

FORA Capital LLC bought a new stake in 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 (SEC). The firm bought 82,890 shares of the mining company’s stock, valued at approximately $2,060,000.

Several other hedge funds also recently modified their holdings of KGC. Norges Bank purchased a new stake in Kinross Gold in the 2nd quarter valued at $389,025,000. Van ECK Associates Corp boosted its holdings in Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. Man Group plc boosted its holdings in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Kinross Gold by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock worth $126,191,000 after acquiring an additional 3,617,320 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Kinross Gold in the third quarter valued at about $80,299,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

KGC has been the topic of a number of recent analyst reports. Scotiabank raised their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $45.00 in a research report on Thursday. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research report on Wednesday, February 4th. Desjardins began coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.56.

Kinross Gold Stock Performance

NYSE:KGC opened at $30.56 on Friday. The company has a market capitalization of $36.66 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.59 and a beta of 0.73. The business has a fifty day simple moving average of $33.85 and a two-hundred day simple moving average of $28.16. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. Kinross Gold Corporation has a 1 year low of $11.12 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a $0.04 dividend. The ex-dividend date 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 dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is 8.16%.

Kinross Gold 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.