704,774 Shares in Kinross Gold Co. (NYSE:KGC) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP acquired a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 704,774 shares of the mining company’s stock, valued at approximately $6,597,000.

Other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC grew its stake in Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after purchasing an additional 1,235 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after purchasing an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Kinross Gold by 18.0% during the 2nd 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after purchasing an additional 2,200 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KGC shares. Scotiabank increased their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group increased their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One 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 MarketBeat, the company has an average rating of “Buy” and an average price target of $11.13.

Kinross Gold Trading Down 0.9 %

Shares of Kinross Gold stock opened at $9.71 on Monday. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The business’s fifty day moving average is $9.93 and its two-hundred day moving average is $9.02. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market cap of $11.93 billion, a PE ratio of 15.92, a P/E/G ratio of 0.43 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. Kinross Gold’s payout ratio is 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.