Oxbow Advisors LLC Takes Position in Kinross Gold Corporation $KGC

Oxbow Advisors LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 19,315 shares of the mining company’s stock, valued at approximately $456,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its stake in shares of Kinross Gold by 35.1% in the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after acquiring an additional 18,287 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Kinross Gold during the first quarter valued at approximately $158,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $167,000. M&T Bank Corp increased its holdings in shares of Kinross Gold by 9.0% in the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after purchasing an additional 1,328 shares in the last quarter. Finally, AXA S.A. acquired a new stake in shares of Kinross Gold in the second quarter valued at approximately $2,483,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC stock opened at $27.12 on Wednesday. The firm’s 50 day moving average price is $24.85 and its two-hundred day moving average price is $29.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a 52-week low of $18.65 and a 52-week high of $39.11. The stock has a market cap of $32.17 billion, a PE ratio of 10.27, a PEG ratio of 0.73 and a beta of 0.78.

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

Kinross Gold Dividend Announcement

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

Analyst Upgrades and Downgrades

KGC has been the topic of several research reports. Royal Bank Of Canada reduced their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Jefferies Financial Group decreased their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Finally, Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Company 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.