Jupiter Asset Management Ltd. Increases Stake in Kinross Gold Corporation $KGC

Jupiter Asset Management Ltd. boosted its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,075,564 shares of the mining company’s stock after acquiring an additional 167,265 shares during the period. Jupiter Asset Management Ltd. owned 0.17% of Kinross Gold worth $51,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Kinross Gold in the second quarter valued at approximately $389,025,000. Man Group plc boosted its holdings in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Bank of America Corp DE grew its position in shares of Kinross Gold by 81.2% in 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 in the last quarter. AustralianSuper Pty Ltd grew its position in shares of Kinross Gold by 127.2% in the second quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after purchasing an additional 3,419,440 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Kinross Gold by 47.5% during the 2nd quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after purchasing an additional 2,880,097 shares during the period. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. UBS Group set a $43.00 target price on Kinross Gold in a report on Friday, January 30th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a report on Wednesday, February 4th. Scotiabank boosted their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, Desjardins initiated coverage on Kinross Gold in a research report 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $33.43 on Friday. The company’s fifty day moving average price is $32.07 and its 200-day moving average price is $26.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a market capitalization of $40.11 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a one year low of $10.32 and a one year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 29.13%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. On average, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio is presently 9.79%.

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.