Kinross Gold Corporation $KGC Shares Bought by Centiva Capital LP

Centiva Capital LP grew its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 583.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,470 shares of the mining company’s stock after purchasing an additional 87,478 shares during the period. Centiva Capital LP’s holdings in Kinross Gold were worth $2,546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitlin John LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $26,000. GPS Wealth Strategies Group LLC acquired a new stake in Kinross Gold during the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kinross Gold during the third quarter valued at $31,000. Harvest Fund Management Co. Ltd increased its holdings in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. Finally, Armstrong Advisory Group Inc. increased its holdings in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after buying an additional 717 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Scotiabank increased their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. UBS Group set a $43.00 price target on Kinross Gold in a report on Friday, January 30th. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.56.

Kinross Gold Stock Performance

NYSE:KGC opened at $30.56 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The stock 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. 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 fifty day moving average of $33.85 and a two-hundred day moving average of $28.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. As a group, research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is presently 8.16%.

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.