SeaCrest Wealth Management LLC Makes New Investment in Kinross Gold Co. (NYSE:KGC)

SeaCrest Wealth Management LLC purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,840 shares of the mining company’s stock, valued at approximately $202,000.

Several other hedge funds also recently bought and sold shares of KGC. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Kinross Gold by 5.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares during the period. Mackenzie Financial Corp grew its position in shares of Kinross Gold by 6.2% in the second quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the period. National Bank of Canada FI grew its position in shares of Kinross Gold by 0.7% in the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after purchasing an additional 70,376 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the period. Finally, Artemis Investment Management LLP grew its position in shares of Kinross Gold by 28.0% in the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after purchasing an additional 1,871,939 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC stock opened at $10.31 on Friday. The stock has a 50-day moving average price of $9.78 and a two-hundred day moving average price of $9.49. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market cap of $12.67 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, research analysts predict that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Analysts Set New Price Targets

A number of brokerages have recently commented on KGC. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.13.

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.