66,000 Shares in Kinross Gold Corporation $KGC Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 66,000 shares of the mining company’s stock, valued at approximately $1,559,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. U S Global Investors Inc. grew its stake in shares of Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after purchasing an additional 95,363 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in Kinross Gold in the first quarter valued at $2,263,000. TD Asset Management Inc lifted its holdings in Kinross Gold by 4.7% during the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after buying an additional 261,861 shares during the last quarter. Man Group plc lifted its holdings in Kinross Gold by 7.6% during the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after buying an additional 882,373 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Kinross Gold during the 2nd quarter worth about $217,800,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of several research analyst reports. Royal Bank Of Canada cut their target price 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. Wall Street Zen downgraded Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. Scotiabank cut their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Stock Performance

Shares of KGC opened at $33.43 on Wednesday. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The firm has a market cap of $39.66 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 0.89 and a beta of 0.78. The company’s 50 day simple moving average is $25.47 and its 200-day simple moving average is $29.10. Kinross Gold Corporation has a 12-month low of $19.77 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly 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 net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. Kinross Gold’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, equities analysts predict that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a $0.04 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is currently 6.06%.

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.