Cinctive Capital Management LP Takes $6.60 Million Position in Kinross Gold Co. (NYSE:KGC)

Cinctive Capital Management LP bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 704,774 shares of the mining company’s stock, valued at approximately $6,597,000. Cinctive Capital Management LP owned about 0.06% of Kinross Gold at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KGC. Private Advisor Group LLC raised its position in Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after purchasing an additional 981 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after purchasing an additional 1,235 shares during the period. Cetera Advisors LLC increased its stake in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after purchasing an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kinross Gold by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after buying an additional 2,200 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $9.71 on Monday. The stock has a market capitalization of $11.93 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.43 and a beta of 1.22. The business’s 50 day moving average is $9.93 and its two-hundred day moving average is $9.02. 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.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 earnings per share. Research analysts expect that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank boosted 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. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Finally, Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and an average target price of $11.13.

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.