151,800 Shares in Kinross Gold Corporation (NYSE:KGC) Bought by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 151,800 shares of the mining company’s stock, valued at approximately $1,913,000.

A number of other institutional investors and hedge funds have also bought and sold shares of KGC. Wells Fargo & Company MN increased its holdings in Kinross Gold by 5.9% in the 4th quarter. Wells Fargo & Company MN now owns 529,328 shares of the mining company’s stock valued at $4,907,000 after buying an additional 29,677 shares during the period. Envestnet Asset Management Inc. increased its holdings in Kinross Gold by 241.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,706,637 shares of the mining company’s stock valued at $15,821,000 after buying an additional 1,206,251 shares during the period. Advisory Services Network LLC bought a new stake in Kinross Gold in the 4th quarter valued at $339,000. Raymond James Financial Inc. bought a new stake in Kinross Gold in the 4th quarter valued at $6,842,000. Finally, Bessemer Group Inc. increased its holdings in Kinross Gold by 19,099.1% in the 4th quarter. Bessemer Group Inc. now owns 42,622 shares of the mining company’s stock valued at $395,000 after buying an additional 42,400 shares during the period. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on KGC shares. CIBC boosted their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an “outperformer” rating in a report on Friday, August 1st. Scotiabank boosted their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 8th. Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Finally, National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.07.

Kinross Gold Stock Performance

NYSE:KGC opened at $19.11 on Tuesday. The stock has a market cap of $23.28 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 0.63 and a beta of 0.55. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average is $15.94 and its 200-day moving average is $13.92. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.25.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was up 41.7% compared to the same quarter last year. Equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold’s dividend payout ratio is presently 9.68%.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.