106,242 Shares in Kinross Gold Corporation $KGC Acquired by Quadrant Capital Group LLC

Key Points

• Quadrant Capital Group acquired 106,242 shares of Kinross Gold valued at approximately $2.49 million, while institutional investors collectively own 63.69% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, thirteen Buy, and two Hold ratings; the consensus rating is Moderate Buy with a $37.11 price target.
• Kinross reported quarterly EPS of $0.71, exceeding estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also pays a quarterly dividend of $0.04, yielding approximately 0.7% annually.

Quadrant Capital Group LLC bought a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 106,242 shares of the mining company's stock, valued at approximately $2,490,000.

Several other large investors have also recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in Kinross Gold by 2.3% in the first 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 last quarter. The Manufacturers Life Insurance Company boosted its stake in Kinross Gold by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 10,014,321 shares of the mining company's stock worth $305,888,000 after buying an additional 854,802 shares during the period. Man Group plc purchased a new position in Kinross Gold during the second quarter worth $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Kinross Gold during the second quarter valued at $264,652,000. Finally, Bank of America Corp DE increased its position in Kinross Gold by 11.4% during the second quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company's stock valued at $255,637,000 after acquiring an additional 1,106,837 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group lowered their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a report on Monday, July 6th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $34.00 price target on shares of Kinross Gold in a research note on Friday, October 16th. TD Securities cut their price target on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Finally, Citigroup reiterated a "buy" rating on shares of Kinross Gold in a report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of "Moderate Buy" and a consensus price target of $37.11.

Kinross Gold Trading Up 0.6%

Shares of NYSE KGC opened at $23.79 on Thursday. Kinross Gold Corporation has a fifty-two week low of $21.90 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The company has a market cap of $28.11 billion, a price-to-earnings ratio of 9.01, a PEG ratio of 0.78 and a beta of 0.82. The business's 50 day moving average price is $27.37 and its 200-day moving average price is $27.52.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (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 company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the business earned $0.44 EPS. Kinross Gold's revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts expect that Kinross Gold Corporation will post 2.41 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a $0.04 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold's dividend payout ratio (DPR) is presently 6.06%.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross's producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.