Spark Investment Management LLC Has $1.53 Million Holdings in Kinross Gold Corporation $KGC

Spark Investment Management LLC lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 46.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,000 shares of the mining company’s stock after purchasing an additional 31,000 shares during the quarter. Kinross Gold accounts for 4.2% of Spark Investment Management LLC’s holdings, making the stock its 8th biggest holding. Spark Investment Management LLC’s holdings in Kinross Gold were worth $1,531,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new stake in Kinross Gold during the first quarter worth about $55,000. Headlands Technologies LLC bought a new stake in shares of Kinross Gold during the 1st quarter worth approximately $77,000. IFP Advisors Inc boosted its position in shares of Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in Kinross Gold in the first quarter valued at approximately $84,000. Finally, Arista Wealth Management LLC bought a new position in Kinross Gold in the second quarter valued at approximately $156,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 1.8%

NYSE:KGC opened at $25.39 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. The company has a market cap of $30.65 billion, a PE ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.60. The firm’s 50 day simple moving average is $24.31 and its 200 day simple moving average is $19.33.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.035 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on KGC shares. TD Securities upped their target price on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Raymond James Financial lifted their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. UBS Group upped their price objective on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $27.56.

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.