Centiva Capital LP Raises Holdings in Kinross Gold Corporation $KGC

Centiva Capital LP grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 583.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,470 shares of the mining company’s stock after acquiring an additional 87,478 shares during the quarter. Centiva Capital LP’s holdings in Kinross Gold were worth $2,546,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC grew its position in Kinross Gold by 35.1% during the 1st 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 acquired a new position in Kinross Gold during the 1st quarter valued at approximately $158,000. Sivia Capital Partners LLC acquired a new position in Kinross Gold during the 2nd quarter valued at approximately $167,000. Prospera Financial Services Inc raised its holdings in shares of Kinross Gold by 28.3% in the second quarter. Prospera Financial Services Inc now owns 17,718 shares of the mining company’s stock worth $277,000 after buying an additional 3,906 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new position in shares of Kinross Gold in the second quarter worth $399,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on KGC. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a report on Wednesday, February 4th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Desjardins initiated coverage on Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. TD Securities dropped their price target on 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, UBS Group set a $43.00 price objective on Kinross Gold in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $39.56.

Kinross Gold Stock Down 6.0%

KGC stock opened at $30.56 on Friday. The company has a market capitalization of $36.66 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.73. Kinross Gold Corporation has a 12 month low of $11.12 and a 12 month high of $39.11. The firm’s fifty day simple moving average is $33.85 and its 200-day simple moving average is $28.22. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm’s revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share. As a group, equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s payout ratio is presently 8.16%.

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.