SeaCrest Wealth Management LLC Boosts Stock Holdings in Kinross Gold Co. (NYSE:KGC)

SeaCrest Wealth Management LLC boosted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 22.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,840 shares of the mining company’s stock after purchasing an additional 5,000 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Kinross Gold were worth $338,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of KGC. Choreo LLC purchased a new position in shares of Kinross Gold during the fourth quarter valued at about $170,000. Strategic Financial Concepts LLC bought a new position in Kinross Gold during the fourth quarter valued at approximately $250,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Kinross Gold by 104.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 118,197 shares of the mining company’s stock valued at $1,096,000 after buying an additional 60,470 shares during the last quarter. Entropy Technologies LP grew its holdings in Kinross Gold by 267.8% during the 4th quarter. Entropy Technologies LP now owns 494,590 shares of the mining company’s stock valued at $4,585,000 after buying an additional 360,100 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in Kinross Gold in the 4th quarter worth approximately $613,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 2.3%

KGC stock opened at $15.10 on Monday. Kinross Gold Co. has a twelve month low of $7.20 and a twelve month high of $15.96. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $14.26 and its two-hundred day simple moving average is $11.96.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. As a group, analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.79%. Kinross Gold’s dividend payout ratio is 12.24%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on KGC. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Royal Bank of Canada increased their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Finally, Scotiabank lifted their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $15.40.

About Kinross Gold

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.