Enclave Advisors LLC Invests $2.96 Million in Kinross Gold Corporation $KGC

Enclave Advisors LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 105,000 shares of the mining company’s stock, valued at approximately $2,957,000.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Kinross Gold by 35.1% in 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 bought a new position in Kinross Gold during the 1st quarter worth approximately $158,000. Sivia Capital Partners LLC bought a new position in Kinross Gold during the second quarter worth $167,000. Cetera Investment Advisers lifted its stake in shares of Kinross Gold by 59.0% in the 2nd quarter. Cetera Investment Advisers now owns 117,629 shares of the mining company’s stock valued at $1,839,000 after purchasing an additional 43,650 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in Kinross Gold in the second quarter valued at approximately $1,285,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. UBS Group reduced their target price on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Desjardins started coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Trading Up 2.8%

Shares of KGC stock opened at $28.68 on Friday. The firm has a market cap of $34.35 billion, a P/E ratio of 14.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.73. The business has a 50-day moving average price of $33.20 and a two-hundred day moving average price of $28.68. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $11.12 and a 12-month 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 (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 net margin of 33.90% and a return on equity of 28.22%. The company’s revenue was up 42.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.04 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date was Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is currently 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.