Mount Lucas Management LP Boosts Stake in Kinross Gold Co. (NYSE:KGC)

Mount Lucas Management LP boosted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 134.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 174,893 shares of the mining company’s stock after buying an additional 100,380 shares during the period. Mount Lucas Management LP’s holdings in Kinross Gold were worth $1,455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in shares of Kinross Gold during the 2nd quarter valued at $40,000. Fifth Third Bancorp lifted its holdings in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares during the last quarter. Advisor Resource Council purchased a new stake in shares of Kinross Gold during the 1st quarter valued at $60,000. Sivia Capital Partners LLC purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $63,000. Finally, Blue Trust Inc. raised its stake in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after acquiring an additional 6,011 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC traded down $0.36 during midday trading on Friday, hitting $8.33. 10,416,233 shares of the company were exchanged, compared to its average volume of 15,168,954. The company’s 50 day simple moving average is $8.82 and its 200 day simple moving average is $7.44. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 0.49 and a beta of 1.23. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 1-year low of $4.32 and a 1-year high of $9.58.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating 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 analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $0.14 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Kinross Gold Co. will post 0.58 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on KGC shares. BMO Capital Markets raised their target price on Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group raised their target price on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Scotiabank raised their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

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.