Banco Santander S.A. Purchases New Shares in Kinross Gold Corporation $KGC

Banco Santander S.A. acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the third quarter, Holdings Channel reports. The institutional investor acquired 35,948 shares of the mining company’s stock, valued at approximately $893,000.

Several other hedge funds have also recently made changes to their positions in the business. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold in the 3rd quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $31,000. Armstrong Advisory Group Inc. lifted its stake in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $40,000. Finally, Mather Group LLC. bought a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $44,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Sunday, February 22nd. Scotiabank increased their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. UBS Group set a $43.00 price target on shares of Kinross Gold in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Finally, Desjardins started coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Stock Up 0.5%

Shares of KGC opened at $36.93 on Friday. The firm has a fifty day moving average price of $33.00 and a 200-day moving average price of $27.26. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $44.31 billion, a P/E ratio of 18.84, a P/E/G ratio of 0.38 and a beta of 0.74. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm’s revenue was up 42.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. Equities research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, March 11th. Kinross Gold’s payout ratio is presently 7.14%.

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.