Healthcare of Ontario Pension Plan Trust Fund Has $28.71 Million Stock Position in Kinross Gold Corporation $KGC

Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 186.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 939,372 shares of the mining company’s stock after buying an additional 611,472 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Kinross Gold were worth $28,709,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Kinross Gold by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares during the period. Boston Partners lifted its position in shares of Kinross Gold by 1.6% in the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock valued at $1,133,463,000 after buying an additional 707,498 shares during the last quarter. FIL Ltd lifted its holdings in Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after purchasing an additional 1,326,833 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after buying an additional 571,100 shares during the period. Finally, Norges Bank bought a new stake in shares of Kinross Gold during the fourth quarter worth approximately $518,656,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KGC. Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. UBS Group decreased their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.31.

Kinross Gold Stock Performance

KGC opened at $23.86 on Monday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 1-year low of $15.37 and a 1-year high of $39.11. The company has a market cap of $28.30 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.64 and a beta of 0.78. The company’s fifty day moving average price is $25.74 and its two-hundred day moving average price is $30.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the business earned $0.30 EPS. The business’s revenue was up 60.8% on a year-over-year basis. On average, analysts expect that Kinross Gold Corporation will post 2.65 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s payout ratio is presently 6.78%.

Kinross Gold 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.