Kinross Gold Corporation $KGC Shares Newly Bought by Quadrant Capital Group LLC

Quadrant Capital Group LLC acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 106,242 shares of the mining company’s stock, valued at approximately $2,490,000.

Several other large investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after acquiring an additional 571,100 shares in the last quarter. Man Group plc purchased a new position in shares of Kinross Gold during the second quarter worth approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $264,652,000. Bank of America Corp DE raised its stake in shares of Kinross Gold by 11.4% during the second quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company’s stock valued at $255,637,000 after acquiring an additional 1,106,837 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $244,762,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group dropped their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Canaccord Genuity Group reduced their price objective on Kinross Gold from $52.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Zacks Research raised Kinross Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Citigroup reaffirmed a “buy” rating on shares of Kinross Gold in a research report on Monday, September 28th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $34.00 target price on shares of Kinross Gold in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.11.

Kinross Gold Stock Up 0.6%

Shares of Kinross Gold stock opened at $23.79 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. Kinross Gold Corporation has a 1 year low of $21.90 and a 1 year high of $39.11. The firm’s 50-day moving average is $27.37 and its two-hundred day moving average is $27.52. The stock has a market cap of $28.11 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 0.78 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. As a group, research analysts expect that Kinross Gold Corporation will post 2.41 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross’s producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.