Manatuck Hill Partners LLC Has $1.86 Million Stake in Kinross Gold Corporation $KGC

Manatuck Hill Partners LLC trimmed its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,000 shares of the mining company’s stock after selling 34,000 shares during the period. Manatuck Hill Partners LLC’s holdings in Kinross Gold were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitlin John LLC acquired a new stake in shares of Kinross Gold in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC bought a new position in Kinross Gold in the third quarter valued at approximately $28,000. Finally, Harvest Fund Management Co. Ltd increased its stake 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 acquiring an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KGC shares. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. TD Securities decreased their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

NYSE KGC opened at $27.28 on Thursday. The firm’s fifty day moving average price is $29.99 and its two-hundred day moving average price is $30.95. The stock has a market cap of $32.54 billion, a PE ratio of 11.56, a PEG ratio of 0.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $14.71 and a fifty-two week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. On average, equities analysts expect that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio is 6.78%.

About Kinross Gold

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.