Mudita Advisors LLP Has $4.33 Million Stock Position in Kinross Gold Corporation $KGC

Mudita Advisors LLP lowered its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 64.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 174,335 shares of the mining company’s stock after selling 322,465 shares during the period. Kinross Gold makes up about 1.3% of Mudita Advisors LLP’s holdings, making the stock its 16th biggest holding. Mudita Advisors LLP’s holdings in Kinross Gold were worth $4,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ballentine Partners LLC raised its position in Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock worth $799,000 after purchasing an additional 565 shares during the last quarter. Cadence Wealth Management LLC grew its position in shares of Kinross Gold by 1.3% in the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after buying an additional 581 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Kinross Gold by 7.0% in the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after buying an additional 587 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of Kinross Gold by 1.1% in the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock valued at $877,000 after buying an additional 593 shares during the period. Finally, Signaturefd LLC raised its position in shares of Kinross Gold by 1.6% during the third quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock worth $1,090,000 after acquiring an additional 680 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KGC has been the topic of several analyst reports. TD Securities reduced their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $45.00 in a report on Thursday. Scotiabank boosted their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $39.56.

Kinross Gold Trading Down 3.3%

Shares of Kinross Gold stock traded down $1.07 on Friday, reaching $31.45. 1,726,086 shares of the company’s stock were exchanged, compared to its average volume of 11,693,788. The company has a market capitalization of $37.74 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.73. Kinross Gold Corporation has a 52 week low of $11.12 and a 52 week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The firm’s 50-day moving average is $33.80 and its two-hundred day moving average is $28.09.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the business posted $0.20 EPS. Kinross Gold’s revenue for the quarter was up 42.9% compared to the same quarter last year. Sell-side analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 11th. Kinross Gold’s payout ratio is presently 8.16%.

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.