Candriam S.C.A. Grows Stake in Kinross Gold Corporation $KGC

Candriam S.C.A. boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 73,495 shares of the mining company’s stock after purchasing an additional 6,770 shares during the quarter. Candriam S.C.A.’s holdings in Kinross Gold were worth $1,146,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after purchasing an additional 3,398,687 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in shares of Kinross Gold by 21.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after buying an additional 57,966 shares during the last quarter. Sprott Inc. raised its position in shares of Kinross Gold by 1.7% in the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock valued at $36,976,000 after buying an additional 48,905 shares during the last quarter. Bayforest Capital Ltd lifted its stake in shares of Kinross Gold by 30.2% during the second quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock valued at $863,000 after buying an additional 12,821 shares during the period. Finally, Truist Financial Corp boosted its position in Kinross Gold by 9.0% during the second quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock worth $4,730,000 after acquiring an additional 25,093 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on KGC. Canaccord Genuity Group boosted their price target on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. UBS Group raised their price target on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. CIBC increased their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, TD Securities boosted their target price on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $27.56.

Kinross Gold Trading Down 2.0%

NYSE KGC opened at $24.94 on Tuesday. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. The company’s 50 day moving average price is $24.25 and its 200 day moving average price is $19.25.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

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

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.