Jupiter Asset Management Ltd. Raises Position in Kinross Gold Corporation $KGC

Jupiter Asset Management Ltd. raised its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,075,564 shares of the mining company’s stock after acquiring an additional 167,265 shares during the period. Jupiter Asset Management Ltd.’s holdings in Kinross Gold were worth $51,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of KGC. GPS Wealth Strategies Group LLC bought a new position in Kinross Gold during the 3rd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Kinross Gold in the third quarter worth approximately $31,000. Armstrong Advisory Group Inc. raised its holdings in Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after buying an additional 717 shares during the last quarter. Hollencrest Capital Management bought a new stake in Kinross Gold during the 3rd quarter valued at $40,000. Finally, Mather Group LLC. purchased a new stake in Kinross Gold during the 3rd quarter valued at $44,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KGC. Scotiabank boosted their price target on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Finally, Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Kinross Gold has an average rating of “Moderate Buy” and an average target price of $34.81.

Kinross Gold Stock Performance

Shares of KGC stock opened at $33.43 on Friday. The company’s fifty day moving average price is $32.07 and its 200-day moving average price is $26.48. The stock has a market cap of $40.11 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 0.36 and a beta of 0.74. 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.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 29.13%. Kinross Gold’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

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.