IFP Advisors Inc Increases Position in Kinross Gold Corporation $KGC

IFP Advisors Inc raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8,563.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 434,625 shares of the mining company’s stock after purchasing an additional 429,608 shares during the quarter. IFP Advisors Inc’s holdings in Kinross Gold were worth $12,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC purchased a new stake in Kinross Gold in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold in the third quarter valued at approximately $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold in the third quarter valued at approximately $29,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Securities cut their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Scotiabank upped their price objective on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. UBS Group cut their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Stock Down 3.9%

Kinross Gold stock opened at $27.40 on Wednesday. Kinross Gold Corporation has a twelve month low of $13.94 and a twelve month high of $39.11. The stock’s fifty day simple moving average is $31.05 and its 200-day simple moving average is $30.56. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $32.68 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.02 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.30 earnings per share. As a group, equities analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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