Creative Planning Has $1.76 Million Stake in Kinross Gold Corporation $KGC

Creative Planning raised its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,758 shares of the mining company’s stock after buying an additional 15,720 shares during the period. Creative Planning’s holdings in Kinross Gold were worth $1,762,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KGC. Boston Partners increased its holdings in shares of Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after acquiring an additional 12,705,061 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in Kinross Gold by 127.2% during the second quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock worth $95,509,000 after purchasing an additional 3,419,440 shares during the period. 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 valued at $87,639,000 after purchasing an additional 3,398,687 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Kinross Gold by 55.8% during the first quarter. Canada Pension Plan Investment Board now owns 6,387,031 shares of the mining company’s stock valued at $80,481,000 after purchasing an additional 2,288,753 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kinross Gold by 21.4% in the second quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after purchasing an additional 1,876,764 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, August 7th. Raymond James Financial boosted their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 22nd. Finally, Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average target price of $27.69.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $27.41 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The company has a market cap of $33.09 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The firm has a fifty day moving average price of $24.62 and a two-hundred day moving average price of $19.74. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $27.84.

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 (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Analysts expect 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. Shareholders 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. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 annualized dividend and a yield of 0.5%. Kinross Gold’s payout ratio is currently 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.