Clough Capital Partners L P Raises Stock Holdings in Kinross Gold Corporation $KGC

Clough Capital Partners L P increased its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 109.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,580 shares of the mining company’s stock after purchasing an additional 37,950 shares during the quarter. Clough Capital Partners L P’s holdings in Kinross Gold were worth $2,044,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Kinross Gold during the 4th quarter worth $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold during the 4th quarter worth $26,000. Caitlin John LLC purchased a new position in Kinross Gold during the 3rd quarter worth $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold during the 3rd quarter worth $28,000. Finally, Elevated Capital Advisors LLC purchased a new position in Kinross Gold during the 4th quarter worth $36,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KGC. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. UBS Group dropped their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, TD Securities dropped their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Stock Down 2.5%

Kinross Gold stock opened at $27.28 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The business’s 50-day simple moving average is $29.99 and its two-hundred day simple moving average is $30.95. The company has a market cap of $32.54 billion, a PE ratio of 11.56, a PEG ratio of 0.99 and a beta of 0.71. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s payout ratio is 6.78%.

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.