Royal Fund Management LLC Invests $162,000 in Kinross Gold Co. (NYSE:KGC)

Royal Fund Management LLC purchased a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 17,516 shares of the mining company’s stock, valued at approximately $162,000.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC boosted its position in Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after buying an additional 981 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Kinross Gold by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after purchasing an additional 1,235 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after purchasing an additional 2,180 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Kinross Gold by 9.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after purchasing an additional 2,200 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in Kinross Gold by 2.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 188,263 shares of the mining company’s stock worth $1,762,000 after purchasing an additional 3,620 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 3.1 %

KGC opened at $10.63 on Wednesday. The company has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $9.51. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82. The company has a market cap of $13.07 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.67 and a beta of 1.21. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts predict that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.13%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KGC. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their target price 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. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.13.

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.