AustralianSuper Pty Ltd Raises Stock Position in Kinross Gold Corporation $KGC

AustralianSuper Pty Ltd grew its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 50.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,197,872 shares of the mining company’s stock after purchasing an additional 3,089,959 shares during the period. Kinross Gold makes up 1.0% of AustralianSuper Pty Ltd’s portfolio, making the stock its 20th biggest holding. AustralianSuper Pty Ltd owned about 0.76% of Kinross Gold worth $228,227,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KGC. Massachusetts Financial Services Co. MA boosted its position in Kinross Gold by 192.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after buying an additional 2,398,621 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after acquiring an additional 102,348 shares during the last quarter. U S Global Investors Inc. boosted its holdings in Kinross Gold by 60.5% during the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock valued at $10,371,000 after acquiring an additional 157,334 shares during the period. Dynasty Wealth Management LLC boosted its holdings in Kinross Gold by 185.4% during the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after acquiring an additional 146,955 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in Kinross Gold during the 3rd quarter worth approximately $1,253,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KGC. Raymond James Financial increased their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Finally, Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.19.

Kinross Gold Stock Up 0.6%

Shares of Kinross Gold stock opened at $38.10 on Thursday. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11. The company has a market cap of $45.72 billion, a P/E ratio of 26.64, a PEG ratio of 0.44 and a beta of 0.75. The company’s fifty day simple moving average is $29.98 and its two-hundred day simple moving average is $24.58.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $0.24 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. Research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is presently 9.79%.

About Kinross Gold

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.