Alps Advisors Inc. Buys Shares of 56,817 Kinross Gold Corporation (NYSE:KGC)

Alps Advisors Inc. bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 56,817 shares of the mining company’s stock, valued at approximately $716,000.

Other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in shares of Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after purchasing an additional 1,002 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after acquiring an additional 2,561 shares in the last quarter. Finally, Helium Advisors LLC acquired a new stake in shares of Kinross Gold during the 4th quarter valued at approximately $97,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $15.58 on Tuesday. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.10. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The business’s fifty day moving average price is $15.09 and its two-hundred day moving average price is $13.02. The firm has a market capitalization of $19.11 billion, a PE ratio of 15.89, a P/E/G ratio of 0.62 and a beta of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold’s dividend payout ratio is presently 12.24%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KGC. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Raymond James Financial raised Kinross Gold to a “hold” rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Scotiabank upped their price target on Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus price target of $17.00.

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.