Kinross Gold Corporation $KGC Shares Bought by IFP Advisors Inc

IFP Advisors Inc increased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8,563.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 434,625 shares of the mining company’s stock after purchasing an additional 429,608 shares during the quarter. IFP Advisors Inc’s holdings in Kinross Gold were worth $12,239,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KGC. Caitlin John LLC acquired a new position in Kinross Gold in the 3rd quarter worth about $26,000. V Square Quantitative Management LLC purchased a new stake in Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. purchased a new stake in Kinross Gold during the 4th quarter worth approximately $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold during the 3rd quarter worth approximately $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in Kinross Gold during the 3rd quarter worth approximately $29,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research note on Wednesday, February 4th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, TD Securities cut their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Trading Down 3.9%

KGC opened at $27.40 on Wednesday. Kinross Gold Corporation has a one year low of $13.94 and a one year high of $39.11. The stock has a market capitalization of $32.68 billion, a PE ratio of 11.61, a P/E/G ratio of 1.02 and a beta of 0.73. The business’s 50 day moving average price is $31.05 and its 200 day moving average price is $30.56. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold’s dividend payout ratio is currently 6.78%.

About Kinross Gold

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.