Novem Group Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Novem Group bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,300 shares of the mining company’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in KGC. Jones Financial Companies Lllp raised its stake in Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after buying an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after acquiring an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Kinross Gold during the fourth quarter worth about $42,000. Global Retirement Partners LLC raised its position in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,788 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after acquiring an additional 5,140 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.6%

NYSE KGC opened at $14.72 on Friday. The stock’s 50 day moving average is $13.72 and its 200 day moving average is $11.57. The firm has a market capitalization of $18.11 billion, a PE ratio of 19.11, a P/E/G ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a twelve month low of $7.20 and a twelve month high of $15.96. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share. Research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s payout ratio is currently 12.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Raymond James boosted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, CIBC restated an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average price target of $14.50.

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.