Formuepleje A S Acquires New Stake in Kinross Gold Corporation $KGC

Formuepleje A S bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,731 shares of the mining company’s stock, valued at approximately $668,000.

A number of other large investors have also recently bought and sold shares of the business. Man Group plc purchased a new position in shares of Kinross Gold during the 2nd quarter worth approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kinross Gold in the second quarter worth $264,652,000. Legal & General Group Plc purchased a new stake in shares of Kinross Gold during the 2nd quarter worth $244,762,000. The Manufacturers Life Insurance Company acquired a new position in shares of Kinross Gold during the 2nd quarter worth $222,974,000. Finally, Deutsche Bank AG acquired a new stake in shares of Kinross Gold in the second quarter valued at about $217,800,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 4.9%

Shares of NYSE KGC traded up $1.08 during trading on Thursday, hitting $23.32. 3,330,502 shares of the company traded hands, compared to its average volume of 9,271,734. The firm has a market capitalization of $27.63 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.77 and a beta of 0.82. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $27.70 and a 200-day moving average price of $27.75. Kinross Gold Corporation has a 1 year low of $21.90 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 2.43 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued 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 payout ratio is presently 6.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Kinross Gold from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Canaccord Genuity Group reduced their price objective on Kinross Gold from $52.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, September 24th. TD Securities decreased their target price on Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Royal Bank Of Canada lowered their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Canadian Imperial Bank of Commerce dropped their price target on Kinross Gold from $54.00 to $50.00 and set an “outperformer” rating for the company in a research report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.89.

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.