Regal Partners Ltd Increases Stock Position in Kinross Gold Corporation $KGC

Regal Partners Ltd increased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 79.9% during the third quarter, HoldingsChannel.com reports. The fund owned 977,243 shares of the mining company’s stock after buying an additional 433,953 shares during the period. Kinross Gold makes up approximately 1.7% of Regal Partners Ltd’s holdings, making the stock its 16th largest holding. Regal Partners Ltd’s holdings in Kinross Gold were worth $24,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Kinross Gold by 7.0% during the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock worth $224,000 after purchasing an additional 587 shares during the period. Natixis Advisors LLC grew its position in Kinross Gold by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 165,215 shares of the mining company’s stock worth $4,106,000 after purchasing an additional 840 shares during the last quarter. Korea Investment CORP increased its stake in Kinross Gold by 372.4% in the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock valued at $81,793,000 after purchasing an additional 2,597,455 shares during the period. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Kinross Gold by 2.3% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 305,265 shares of the mining company’s stock valued at $7,582,000 after purchasing an additional 6,890 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich purchased a new stake in shares of Kinross Gold in the third quarter valued at about $135,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.6%

Shares of Kinross Gold stock opened at $32.54 on Friday. Kinross Gold Corporation has a 52-week low of $10.42 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. The company’s 50-day simple moving average is $33.45 and its 200-day simple moving average is $27.78. The firm has a market cap 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.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s revenue was up 42.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 8.16%.

Analysts Set New Price Targets

KGC has been the subject of several recent research reports. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. TD Securities dropped their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 2nd. Finally, Desjardins assumed coverage on Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $36.31.

Kinross Gold 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.