E Fund Management Co. Ltd. Makes New Investment in Kinross Gold Corporation $KGC

E Fund Management Co. Ltd. acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,061 shares of the mining company’s stock, valued at approximately $853,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock worth $262,000 after buying an additional 292 shares during the period. Turning Point Benefit Group Inc. boosted its stake in shares of Kinross Gold by 6.6% during the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of Kinross Gold by 2.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after purchasing an additional 473 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. increased its holdings in Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company’s stock worth $3,329,000 after purchasing an additional 500 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 10.4%

Shares of KGC stock opened at $29.93 on Thursday. Kinross Gold Corporation has a 1-year low of $18.74 and a 1-year high of $39.11. The company has a market cap of $35.50 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The stock has a 50 day simple moving average of $24.97 and a 200-day simple moving average of $29.09.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 EPS. On average, equities research analysts expect that Kinross Gold Corporation will post 2.63 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio is presently 6.06%.

Analyst Ratings Changes

KGC has been the subject of several recent research reports. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.43.

About Kinross Gold

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.