543,290 Shares in Kinross Gold Corporation $KGC Bought by Regal Partners Ltd

Regal Partners Ltd acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, HoldingsChannel reports. The fund acquired 543,290 shares of the mining company’s stock, valued at approximately $8,492,000. Kinross Gold accounts for 0.7% of Regal Partners Ltd’s holdings, making the stock its 26th biggest holding.

A number of other institutional investors have also made changes to their positions in KGC. Atria Investments Inc grew its stake in Kinross Gold by 14.2% in the second quarter. Atria Investments Inc now owns 16,660 shares of the mining company’s stock valued at $260,000 after acquiring an additional 2,076 shares during the period. Assetmark Inc. grew its stake in Kinross Gold by 86.6% in the second quarter. Assetmark Inc. now owns 2,042,147 shares of the mining company’s stock valued at $31,919,000 after acquiring an additional 947,476 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Kinross Gold in the second quarter valued at about $273,000. AustralianSuper Pty Ltd grew its stake in 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 acquiring an additional 3,419,440 shares during the period. Finally, Winmill & CO. Inc. grew its stake in Kinross Gold by 2.0% in the second quarter. Winmill & CO. Inc. now owns 815,500 shares of the mining company’s stock valued at $12,746,000 after acquiring an additional 16,000 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KGC has been the subject of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research note on Thursday, August 7th. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday. CIBC boosted their target price on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, UBS Group boosted their target price on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of $27.56.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $23.25 on Friday. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 18.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.64. The stock’s 50-day moving average is $23.47 and its 200-day moving average is $18.45. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. 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 issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company’s quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. Equities analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

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.