Royal Fund Management LLC Makes New $162,000 Investment in Kinross Gold Co. (NYSE:KGC)

Royal Fund Management LLC acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,516 shares of the mining company’s stock, valued at approximately $162,000.

Other hedge funds also recently modified their holdings of the company. Corundum Trust Company INC acquired a new stake in Kinross Gold during the third quarter worth approximately $94,000. OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $94,000. EP Wealth Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $95,000. Fiera Capital Corp bought a new stake in Kinross Gold in the 3rd quarter valued at $99,000. Finally, M&T Bank Corp acquired a new position in Kinross Gold in the 3rd quarter valued at $100,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Trading Up 3.1 %

KGC opened at $10.63 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82. The stock has a market capitalization of $13.07 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.67 and a beta of 1.21. The company has a 50-day simple moving average of $9.80 and a 200 day simple moving average of $9.51.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. Analysts predict that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

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.