Aquatic Capital Management LLC Has $18.24 Million Position in Kinross Gold Corporation $KGC

Aquatic Capital Management LLC cut its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 31.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 734,133 shares of the mining company’s stock after selling 341,881 shares during the quarter. Aquatic Capital Management LLC’s holdings in Kinross Gold were worth $18,243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Caitlin John LLC acquired a new position in Kinross Gold during the 3rd quarter worth approximately $26,000. GPS Wealth Strategies Group LLC acquired a new stake in shares of Kinross Gold in the third quarter valued at approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Kinross Gold in the third quarter worth $31,000. Harvest Fund Management Co. Ltd boosted its holdings in Kinross Gold by 85.2% during the third 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 during the last quarter. Finally, Armstrong Advisory Group Inc. boosted its holdings in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Down 6.0%

Kinross Gold stock opened at $30.56 on Friday. The firm has a market capitalization of $36.66 billion, a PE ratio of 15.59, a P/E/G ratio of 1.49 and a beta of 0.73. The company’s 50-day moving average is $33.85 and its 200-day moving average is $28.22. Kinross Gold Corporation has a fifty-two week low of $11.12 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the business posted $0.20 EPS. Kinross Gold’s revenue was up 42.9% on a year-over-year basis. Sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s payout ratio is 8.16%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $45.00 in a report on Thursday. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Finally, TD Securities dropped their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Two equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.56.

Kinross Gold 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.