Gabelli Funds LLC Increases Holdings in Kinross Gold Co. (NYSE:KGC)

Gabelli Funds LLC grew its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,194,500 shares of the mining company’s stock after purchasing an additional 194,700 shares during the quarter. Gabelli Funds LLC owned approximately 0.42% of Kinross Gold worth $43,218,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in KGC. Atlas Capital Advisors LLC purchased a new stake in shares of Kinross Gold during the 2nd quarter valued at $40,000. Advisor Resource Council bought a new position in shares of Kinross Gold during the 1st quarter worth $60,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold during the 4th quarter worth $63,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold during the 1st quarter worth $70,000. Finally, Fifth Third Bancorp boosted its stake in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.56 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The business’s 50 day simple moving average is $8.97 and its two-hundred day simple moving average is $7.75. The stock has a market capitalization of $11.75 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23. Kinross Gold Co. has a one year low of $4.32 and a one year high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $0.14 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Kinross Gold Co. will post 0.58 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.26%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KGC shares. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group raised their price objective on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Company 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.