Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in Kinross Gold Corporation $KGC

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 186.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 939,372 shares of the mining company’s stock after acquiring an additional 611,472 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of Kinross Gold worth $28,709,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Kinross Gold during the fourth quarter valued at $518,656,000. AQR Capital Management LLC grew its position in Kinross Gold by 4,443.4% in the 4th quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after purchasing an additional 6,590,380 shares during the last quarter. Man Group plc increased its position in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares during the period. Bank of America Corp DE increased its holdings in shares of Kinross Gold by 81.2% during the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Kinross Gold in the 3rd quarter valued at about $74,996,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 0.0%

KGC stock opened at $23.86 on Monday. The business’s 50 day moving average is $25.74 and its 200-day moving average is $30.18. Kinross Gold Corporation has a 1-year low of $15.37 and a 1-year high of $39.11. The firm has a market cap of $28.30 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.64 and a beta of 0.78. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s payout ratio is currently 6.78%.

Wall Street Analyst Weigh In

KGC has been the topic of a number of research reports. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Scotiabank cut their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Finally, UBS Group reduced their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.31.

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.