Tacita Capital Inc Takes Position in Kinross Gold Corporation $KGC

Tacita Capital Inc bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 40,533 shares of the mining company’s stock, valued at approximately $958,000.

Several other hedge funds have also made changes to their positions in KGC. Parallel Advisors LLC grew its holdings in shares of Kinross Gold by 3.2% in the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after purchasing an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. increased its stake in Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after buying an additional 393 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after buying an additional 473 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. lifted its holdings in Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after buying an additional 500 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its position in Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after buying an additional 521 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 10.4%

Shares of NYSE:KGC opened at $29.93 on Thursday. Kinross Gold Corporation has a 52 week low of $18.74 and a 52 week high of $39.11. The company’s 50 day moving average is $24.97 and its two-hundred day moving average is $29.09. The company has a market cap of $35.50 billion, a PE ratio of 11.34, a P/E/G ratio of 0.73 and a beta of 0.78. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. Kinross Gold’s revenue for the quarter was up 29.5% compared to the same quarter last year. Equities analysts predict that Kinross Gold Corporation will post 2.63 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Analyst Ratings Changes

KGC has been the subject of several research reports. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Scotiabank reduced their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. UBS Group decreased their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada reduced their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

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.