Inspire Advisors LLC Invests $782,000 in Kinross Gold Corporation $KGC

Inspire Advisors LLC bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,009 shares of the mining company’s stock, valued at approximately $782,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold during the 1st quarter worth about $55,000. Headlands Technologies LLC acquired a new position in Kinross Gold during the first quarter valued at approximately $77,000. IFP Advisors Inc grew its stake in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in shares of Kinross Gold during the 1st quarter worth approximately $84,000. Finally, Arista Wealth Management LLC bought a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $156,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KGC. Raymond James Financial raised their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. TD Securities increased their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Canaccord Genuity Group upped their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and an average target price of $27.56.

Kinross Gold Price Performance

Shares of KGC opened at $25.39 on Wednesday. The company’s 50-day moving average is $24.31 and its 200-day moving average is $19.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm has a market capitalization of $30.65 billion, a PE ratio of 20.48, a PEG ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $27.84.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 26th. Kinross Gold’s dividend payout ratio is 9.79%.

Kinross Gold Profile

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.