36,061 Shares in Kinross Gold Corporation $KGC Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. bought a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 36,061 shares of the mining company’s stock, valued at approximately $853,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. U S Global Investors Inc. increased its position in shares of Kinross Gold by 95.4% during the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after purchasing an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in Kinross Gold in the first quarter valued at about $2,263,000. TD Asset Management Inc lifted its position in Kinross Gold by 4.7% in the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock valued at $165,814,000 after buying an additional 261,861 shares during the last quarter. Man Group plc boosted its stake in Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after buying an additional 882,373 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in Kinross Gold by 369.0% during the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock worth $2,439,000 after buying an additional 68,154 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the topic of several recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. UBS Group dropped their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Scotiabank lowered their price target on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.43.

Kinross Gold Stock Up 10.4%

Shares of NYSE KGC opened at $29.93 on Thursday. The company has a market capitalization of $35.50 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The business has a 50-day moving average of $24.97 and a two-hundred day moving average of $29.09. Kinross Gold Corporation has a 1 year low of $18.74 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, analysts forecast that Kinross Gold Corporation will post 2.63 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

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.