Quadrature Capital Ltd Makes New Investment in Kinross Gold Corporation $KGC

Quadrature Capital Ltd acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,232,200 shares of the mining company’s stock, valued at approximately $80,299,000. Kinross Gold accounts for 0.9% of Quadrature Capital Ltd’s investment portfolio, making the stock its 27th biggest holding. Quadrature Capital Ltd owned 0.27% of Kinross Gold at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Kinross Gold by 35.1% during the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after purchasing an additional 18,287 shares during the period. Caxton Associates LLP purchased a new position in Kinross Gold in the first quarter valued at approximately $158,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the second quarter valued at approximately $167,000. Atria Investments Inc lifted its position in Kinross Gold by 14.2% during the second quarter. Atria Investments Inc now owns 16,660 shares of the mining company’s stock valued at $260,000 after buying an additional 2,076 shares in the last quarter. Finally, Savant Capital LLC lifted its position in Kinross Gold by 26.4% during the second quarter. Savant Capital LLC now owns 55,307 shares of the mining company’s stock valued at $864,000 after buying an additional 11,537 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.1%

Shares of NYSE:KGC opened at $32.54 on Friday. The company has a market capitalization of $39.04 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.59 and a beta of 0.73. The company has a 50 day moving average of $33.80 and a two-hundred day moving average of $28.09. Kinross Gold Corporation has a 52-week low of $11.12 and a 52-week high of $39.11. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio (DPR) is presently 8.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research report on Wednesday, February 4th. Scotiabank lifted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Desjardins initiated coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating for the company. UBS Group set a $43.00 price target on Kinross Gold in a report on Friday, January 30th. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.