258,646 Shares of Kinross Gold Corporation $KGC Bought by Ninety One North America Inc.

Ninety One North America Inc. bought a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the third quarter, HoldingsChannel.com reports. The fund bought 258,646 shares of the mining company’s stock, valued at approximately $6,249,000.

Other institutional investors also recently modified their holdings of the company. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold during the first quarter valued at approximately $29,000. Continuum Advisory LLC bought a new position in Kinross Gold in the 2nd quarter worth approximately $26,000. Caitlin John LLC raised its position in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company’s stock worth $41,000 after buying an additional 605 shares in the last quarter. Finally, Archer Investment Corp acquired a new position in Kinross Gold during the 1st quarter worth $46,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Up 4.7%

Shares of Kinross Gold stock traded up $1.04 on Thursday, hitting $23.29. 3,360,463 shares of the company’s stock traded hands, compared to its average volume of 9,271,734. The firm’s 50-day moving average price is $27.70 and its two-hundred day moving average price is $27.75. The stock has a market capitalization of $27.58 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.77 and a beta of 0.82. Kinross Gold Corporation has a one year low of $21.90 and a one year high of $39.11. 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 (NYSE:KGC) (TSE:K) last posted its quarterly 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. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 2.43 EPS 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 issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, August 20th. Kinross Gold’s dividend payout ratio is currently 6.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KGC. Canaccord Genuity Group decreased their price objective on Kinross Gold from $52.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Scotiabank dropped their target price on Kinross Gold from $41.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Canadian Imperial Bank of Commerce cut their price target on Kinross Gold from $54.00 to $50.00 and set an “outperformer” rating on the stock in a research note on Friday, September 25th. Finally, UBS Group cut their price target on Kinross Gold from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.