Legal & General Group Plc Purchases 814,995 Shares of Kinross Gold Corporation $KGC

Legal & General Group Plc increased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,652,747 shares of the mining company’s stock after acquiring an additional 814,995 shares during the quarter. Legal & General Group Plc owned about 0.89% of Kinross Gold worth $300,445,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. AustralianSuper Pty Ltd increased its stake in Kinross Gold by 50.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after purchasing an additional 3,089,959 shares in the last quarter. Korea Investment CORP increased its stake in Kinross Gold by 372.4% during the 3rd quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock valued at $81,793,000 after purchasing an additional 2,597,455 shares in the last quarter. Vanguard Group Inc. increased its stake in Kinross Gold by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock valued at $1,259,280,000 after purchasing an additional 1,553,594 shares in the last quarter. FORA Capital LLC acquired a new position in Kinross Gold during the 3rd quarter valued at approximately $2,060,000. Finally, Regal Partners Ltd increased its stake in Kinross Gold by 79.9% during the 3rd quarter. Regal Partners Ltd now owns 977,243 shares of the mining company’s stock valued at $24,284,000 after purchasing an additional 433,953 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent analyst reports. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. TD Securities cut their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group cut their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Price Performance

Shares of KGC opened at $29.44 on Wednesday. The business’s 50-day moving average is $30.69 and its two-hundred day moving average is $30.75. The company has a market capitalization of $35.11 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.01 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $14.35 and a fifty-two week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Research analysts predict that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Kinross Gold Company 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.