Up Capital Management Inc. Invests $5.44 Million in Kinross Gold Corporation $KGC

Up Capital Management Inc. acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 193,252 shares of the mining company’s stock, valued at approximately $5,442,000. Kinross Gold makes up 4.9% of Up Capital Management Inc.’s portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KGC. Caitlin John LLC purchased a new position in Kinross Gold in the third quarter worth $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter worth $28,000. Finally, Harvest Fund Management Co. Ltd boosted its position in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of several research analyst reports. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. TD Securities lowered their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $26.66 on Friday. The company has a 50 day simple moving average of $29.76 and a two-hundred day simple moving average of $30.91. The stock has a market cap of $31.80 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.94 and a beta of 0.71. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. As a group, analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Announces Dividend

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

About Kinross Gold

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.