Headlands Technologies LLC Takes Position in Kinross Gold Corporation $KGC

by · The Markets Daily

Headlands Technologies LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) during the second quarter, Holdings Channel reports. The firm bought 25,495 shares of the mining company’s stock, valued at approximately $602,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGC. Ascentis Independent Advisors bought a new position in Kinross Gold during the first quarter valued at about $29,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the third quarter valued at about $28,000. Harvest Fund Management Co. Ltd grew its position in shares of Kinross Gold by 85.2% during the 3rd 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 period. Caitlin John LLC grew its position in shares of Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after acquiring an additional 400 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on KGC shares. Wall Street Zen downgraded Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Scotiabank reduced their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Zacks Research lowered shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings cut shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Read Our Latest Research Report on KGC

Kinross Gold Stock Performance

NYSE:KGC opened at $30.25 on Thursday. 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 $21.49 and a 52-week high of $39.11. The firm has a market cap of $35.83 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 0.79 and a beta of 0.84. The business’s fifty day moving average is $26.09 and its 200 day moving average is $29.02.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. Research analysts predict that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is presently 6.06%.

Kinross Gold Company Profile

(Free Report)

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.

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