International Assets Investment Management LLC Takes Position in Kinross Gold Co. (NYSE:KGC)

International Assets Investment Management LLC acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,938 shares of the mining company’s stock, valued at approximately $320,000.

Several other hedge funds have also recently modified their holdings of KGC. Bruce G. Allen Investments LLC purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $53,000. Pearl River Capital LLC boosted its position in Kinross Gold by 17.9% in the third quarter. Pearl River Capital LLC now owns 21,100 shares of the mining company’s stock valued at $96,000 after buying an additional 3,200 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $104,000. Finally, Laurion Capital Management LP purchased a new stake in Kinross Gold in the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. CIBC upped their price objective on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.38.

Kinross Gold Stock Performance

NYSE KGC opened at $7.94 on Thursday. The stock has a market cap of $9.74 billion, a PE ratio of 22.04, a P/E/G ratio of 2.13 and a beta of 1.14. The company has a current ratio of 1.15, a quick ratio of 0.45 and a debt-to-equity ratio of 0.20. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $8.23. The stock has a fifty day simple moving average of $6.61 and a 200-day simple moving average of $5.92.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Equities analysts anticipate that Kinross Gold Co. will post 0.49 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, May 30th. Kinross Gold’s dividend payout ratio is presently 33.33%.

Kinross Gold 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.