Ninety One North America Inc. Has $12.42 Million Stake in Kinross Gold Corporation $KGC

Ninety One North America Inc. decreased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 18.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 440,414 shares of the mining company’s stock after selling 100,920 shares during the quarter. Ninety One North America Inc.’s holdings in Kinross Gold were worth $12,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $26,000. Caitlin John LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $28,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KGC. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Scotiabank upped their target price on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. TD Securities decreased their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Up 3.2%

Shares of NYSE:KGC opened at $34.94 on Friday. The company has a market capitalization of $41.72 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.65 and a beta of 0.82. Kinross Gold Corporation has a 1 year low of $13.28 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The business’s 50 day simple moving average is $32.49 and its 200 day simple moving average is $29.62.

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

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Wednesday, March 11th were given a dividend of $0.04 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, March 11th. Kinross Gold’s dividend payout ratio (DPR) is currently 8.16%.

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.