Kinross Gold Corporation $KGC Shares Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,825,153 shares of the mining company’s stock after purchasing an additional 37,942 shares during the period. First Eagle Investment Management LLC’s holdings in Kinross Gold were worth $184,827,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the 1st quarter valued at $55,000. Headlands Technologies LLC acquired a new position in Kinross Gold in the first quarter valued at $77,000. SBI Securities Co. Ltd. boosted its stake in Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after acquiring an additional 1,787 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of Kinross Gold during the first quarter worth about $84,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.2%

NYSE:KGC opened at $23.79 on Friday. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $23.74 and its 200-day simple moving average is $18.66. The firm has a market cap of $28.79 billion, a P/E ratio of 19.19, a PEG ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. Equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is presently 8.39%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. TD Securities boosted their price objective on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. UBS Group upped their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Raymond James Financial increased their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.56.

About Kinross Gold

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.