Atlas Capital Advisors LLC Acquires New Shares in Kinross Gold Co. (NYSE:KGC)

Atlas Capital Advisors LLC bought a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,815 shares of the mining company’s stock, valued at approximately $40,000.

Several other hedge funds have also recently added to or reduced their stakes in KGC. Van ECK Associates Corp grew its stake in shares of Kinross Gold by 9.5% in the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock valued at $925,392,000 after purchasing an additional 13,099,791 shares during the period. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after acquiring an additional 497,531 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter worth approximately $265,327,000. Ruffer LLP boosted its stake in shares of Kinross Gold by 4.6% during the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after acquiring an additional 877,104 shares during the period. Finally, Boston Partners lifted its stake in shares of Kinross Gold by 7.9% during the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after buying an additional 1,328,372 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets upped their target price on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. Jefferies Financial Group boosted their price objective on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC boosted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.04 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The stock has a market capitalization of $11.11 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a one year low of $4.32 and a one year high of $9.58. The business’s 50 day simple moving average is $8.75 and its two-hundred day simple moving average is $7.30.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $0.14 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Kinross Gold Co. will post 0.58 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, August 22nd. Kinross Gold’s payout ratio is currently 33.33%.

About Kinross Gold

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.