SCP Investment LP Takes Position in Kinross Gold Co. (NYSE:KGC)

SCP Investment LP acquired a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,800 shares of the mining company’s stock, valued at approximately $156,000.

A number of other hedge funds have also bought and sold shares of KGC. Mediolanum International Funds Ltd bought a new position in shares of Kinross Gold in the fourth quarter worth $2,506,000. Truist Financial Corp boosted its stake in Kinross Gold by 48.2% in the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock worth $2,800,000 after purchasing an additional 98,196 shares during the period. Geode Capital Management LLC grew its holdings in Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after buying an additional 828,456 shares in the last quarter. DJE Kapital AG bought a new stake in shares of Kinross Gold during the fourth quarter valued at about $3,723,000. Finally, Amundi lifted its holdings in shares of Kinross Gold by 9.3% in the fourth quarter. Amundi now owns 5,794,489 shares of the mining company’s stock worth $53,715,000 after buying an additional 492,611 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 22nd. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Finally, CIBC upped their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.63.

Kinross Gold Price Performance

KGC opened at $12.50 on Friday. The stock has a market capitalization of $15.37 billion, a P/E ratio of 16.23, a PEG ratio of 0.68 and a beta of 1.29. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $6.13 and a 12-month high of $12.90. The stock has a 50-day moving average price of $11.40 and a 200-day moving average price of $10.39.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Equities analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.96%. Kinross Gold’s payout ratio is 15.58%.

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.