Capstone Investment Advisors LLC Makes New $774,000 Investment in Kinross Gold Co. (NYSE:KGC)

Capstone Investment Advisors LLC acquired a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 82,734 shares of the mining company’s stock, valued at approximately $774,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Artemis Investment Management LLP lifted its position in Kinross Gold by 321.5% during the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Kinross Gold by 634.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock worth $36,971,000 after buying an additional 3,405,478 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Kinross Gold by 64.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after buying an additional 1,856,478 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after purchasing an additional 1,777,076 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of research analyst reports. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group boosted their price objective 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. Finally, Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

NYSE KGC opened at $9.80 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a fifty day simple moving average of $9.93 and a 200 day simple moving average of $8.99. The company has a market cap of $12.04 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.44 and a beta of 1.22. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. Kinross Gold’s dividend payout ratio is presently 19.67%.

Kinross Gold Company 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.