GSA Capital Partners LLP Makes New $1.19 Million Investment in Kinross Gold Corporation $KGC

GSA Capital Partners LLP acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,417 shares of the mining company’s stock, valued at approximately $1,191,000.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the fourth quarter valued at $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold in the 3rd quarter valued at about $28,000. Ascentis Independent Advisors acquired a new stake in shares of Kinross Gold during the 1st quarter worth about $29,000. Harvest Fund Management Co. Ltd lifted its stake 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, Elevated Capital Advisors LLC purchased a new stake in Kinross Gold during the fourth quarter worth approximately $36,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 1.8%

KGC opened at $27.79 on Tuesday. The firm has a market cap of $32.97 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. Kinross Gold Corporation has a 52 week low of $18.65 and a 52 week high of $39.11. The business’s 50 day moving average is $24.81 and its two-hundred day moving average is $29.22. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company’s revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, research analysts predict that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio is 6.06%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada lowered their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Jefferies Financial Group dropped their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Scotiabank cut their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.43.

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.