Credit Agricole S A Raises Holdings in Kinross Gold Corporation $KGC

Credit Agricole S A lifted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 74.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,048,158 shares of the mining company’s stock after acquiring an additional 448,216 shares during the quarter. Credit Agricole S A’s holdings in Kinross Gold were worth $13,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of KGC. Raymond James Financial Inc. purchased a new stake in shares of Kinross Gold in the fourth quarter worth about $6,842,000. Townsquare Capital LLC boosted its stake in shares of Kinross Gold by 50.9% in the fourth quarter. Townsquare Capital LLC now owns 17,601 shares of the mining company’s stock worth $163,000 after buying an additional 5,936 shares during the last quarter. Mariner LLC boosted its stake in shares of Kinross Gold by 41.3% in the fourth quarter. Mariner LLC now owns 205,711 shares of the mining company’s stock worth $1,907,000 after buying an additional 60,095 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kinross Gold by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,419,382 shares of the mining company’s stock worth $87,310,000 after buying an additional 160,755 shares during the last quarter. Finally, State of Tennessee Department of Treasury boosted its stake in shares of Kinross Gold by 0.9% in the fourth quarter. State of Tennessee Department of Treasury now owns 709,729 shares of the mining company’s stock worth $6,588,000 after buying an additional 6,092 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE KGC opened at $19.0960 on Thursday. The company has a market cap of $23.21 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 0.62 and a beta of 0.55. The stock’s 50 day simple moving average is $16.48 and its 200-day simple moving average is $14.27. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KGC shares. UBS Group started coverage on Kinross Gold in a research report on Monday, August 4th. They set a “buy” rating and a $20.00 price target on the stock. Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Canaccord Genuity Group increased their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of “Buy” and a consensus price target of $20.07.

Kinross Gold Company 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.