Manatuck Hill Partners LLC Has $1.86 Million Holdings in Kinross Gold Corporation $KGC

Manatuck Hill Partners LLC cut its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 34.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 66,000 shares of the mining company’s stock after selling 34,000 shares during the quarter. Manatuck Hill Partners LLC’s holdings in Kinross Gold were worth $1,859,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC grew its stake in shares of Kinross Gold by 35.1% in the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after purchasing an additional 18,287 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Kinross Gold in the first quarter worth $158,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the second quarter worth $167,000. M&T Bank Corp grew its stake in shares of Kinross Gold by 9.0% in the second quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock worth $252,000 after purchasing an additional 1,328 shares during the last quarter. Finally, AXA S.A. bought a new stake in shares of Kinross Gold in the second quarter worth $2,483,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KGC. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. UBS Group reduced their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. TD Securities reduced their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Stock Performance

Shares of KGC opened at $27.28 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $32.54 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. The firm’s fifty day simple moving average is $29.99 and its two-hundred day simple moving average is $30.95. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. As a group, analysts predict that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio is currently 6.78%.

Kinross Gold Company Profile

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.