Eleva Capital SAS Makes New $2.24 Million Investment in Kinross Gold Corporation $KGC

Eleva Capital SAS purchased a new stake 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 purchased 89,978 shares of the mining company’s stock, valued at approximately $2,236,000. Kinross Gold makes up about 0.6% of Eleva Capital SAS’s investment portfolio, making the stock its 7th biggest position.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after buying an additional 18,287 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Kinross Gold during the 1st quarter valued at about $158,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the 2nd quarter valued at approximately $167,000. D.A. Davidson & CO. boosted its position in Kinross Gold by 9.6% during the second quarter. D.A. Davidson & CO. now owns 63,483 shares of the mining company’s stock worth $992,000 after purchasing an additional 5,572 shares during the period. Finally, Carnegie Investment Counsel bought a new stake in Kinross Gold during the second quarter worth approximately $213,000. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. 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 research report on Monday, January 26th. Desjardins started coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Finally, Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Stock Performance

NYSE KGC opened at $33.42 on Monday. The company’s fifty day moving average is $32.18 and its two-hundred day moving average is $26.71. Kinross Gold Corporation has a 52-week low of $10.32 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The firm has a market capitalization of $40.10 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.35 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the company earned $0.20 earnings per share. The firm’s revenue was up 42.9% on a year-over-year basis. Equities 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. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.04 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s dividend payout ratio (DPR) is presently 7.14%.

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.