AustralianSuper Pty Ltd Acquires 3,419,440 Shares of Kinross Gold Corporation $KGC

AustralianSuper Pty Ltd increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 127.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,107,913 shares of the mining company’s stock after purchasing an additional 3,419,440 shares during the period. AustralianSuper Pty Ltd’s holdings in Kinross Gold were worth $95,509,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after purchasing an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. grew its holdings in Kinross Gold by 21.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock worth $4,076,000 after purchasing an additional 57,966 shares during the period. Sprott Inc. grew its holdings in Kinross Gold by 1.7% during the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after purchasing an additional 48,905 shares during the period. Bayforest Capital Ltd grew its holdings in Kinross Gold by 30.2% during the second quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after purchasing an additional 12,821 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Kinross Gold by 264.7% during the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company’s stock worth $1,960,000 after purchasing an additional 112,800 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 0.1%

Shares of NYSE:KGC opened at $23.95 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The stock has a market cap of $28.97 billion, a PE ratio of 19.31, a P/E/G ratio of 0.47 and a beta of 0.64. The business has a 50 day moving average of $23.07 and a 200-day moving average of $18.13. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84.

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. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue for the quarter 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. As a group, equities research analysts forecast 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 was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold’s payout ratio is 9.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Zacks Research upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings restated a “buy (a-)” rating on shares of Kinross Gold in a report on Wednesday, October 8th. Raymond James Financial boosted their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, UBS Group boosted their price objective on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.56.

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.