Kinross Gold Corporation $KGC Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd increased its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 214.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,614,109 shares of the mining company’s stock after acquiring an additional 5,872,044 shares during the quarter. Ninety One UK Ltd’s holdings in Kinross Gold were worth $207,996,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ascentis Independent Advisors acquired a new stake in shares of Kinross Gold during the first quarter worth $29,000. Continuum Advisory LLC purchased a new stake in shares of Kinross Gold during the second quarter valued at $26,000. Caitlin John LLC lifted its holdings in shares of Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after purchasing an additional 400 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Kinross Gold by 80.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock valued at $41,000 after purchasing an additional 605 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of Kinross Gold in the 1st quarter valued at $46,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KGC. Scotiabank cut their price objective on Kinross Gold from $41.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. UBS Group reduced their price objective on shares of Kinross Gold from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Zacks Research upgraded shares of Kinross Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Jefferies Financial Group dropped their target price on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Finally, TD Securities dropped their target price on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus price target of $38.89.

Kinross Gold Stock Up 4.7%

NYSE:KGC traded up $1.04 during trading hours on Thursday, hitting $23.29. 3,408,555 shares of the company’s stock traded hands, compared to its average volume of 9,272,911. The stock’s fifty day moving average price is $27.70 and its two-hundred day moving average price is $27.75. The firm has a market cap of $27.58 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.77 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a twelve month low of $21.90 and a twelve month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. On average, research analysts expect that Kinross Gold Corporation will post 2.43 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s payout ratio is presently 6.06%.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.