AGF Management Ltd. Purchases 174,664 Shares of Kinross Gold Corporation $KGC

AGF Management Ltd. boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 33.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 690,533 shares of the mining company’s stock after acquiring an additional 174,664 shares during the period. AGF Management Ltd. owned 0.06% of Kinross Gold worth $10,791,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KGC. Banque Cantonale Vaudoise bought a new position in Kinross Gold in the 1st quarter valued at $55,000. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold in the first quarter worth $77,000. SBI Securities Co. Ltd. boosted its stake in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after buying an additional 1,787 shares during the period. IFP Advisors Inc grew its position in 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 buying an additional 835 shares in the last quarter. Finally, Wealth Preservation Advisors LLC bought a new position in Kinross Gold in the 1st quarter worth about $84,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 2.2%

Shares of NYSE:KGC opened at $24.30 on Friday. The stock has a market capitalization of $29.41 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The stock’s 50-day moving average price is $23.80 and its 200-day moving average price is $18.75. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. 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 earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business posted $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be issued a $0.035 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of research analyst reports. UBS Group lifted their price target on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Canaccord Genuity Group lifted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. 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 report on Friday, October 10th. Finally, TD Securities raised their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target 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.