AustralianSuper Pty Ltd Purchases Shares of 2,688,473 Kinross Gold Corporation (NYSE:KGC)

AustralianSuper Pty Ltd purchased a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,688,473 shares of the mining company's stock, valued at approximately $33,877,000. AustralianSuper Pty Ltd owned 0.22% of Kinross Gold at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KGC. Norges Bank acquired a new position in Kinross Gold in the fourth quarter worth $280,697,000. Man Group plc lifted its stake in shares of Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after acquiring an additional 5,871,904 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Kinross Gold by 365.8% during the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after acquiring an additional 5,400,447 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the period. Finally, Merewether Investment Management LP acquired a new position in shares of Kinross Gold during the fourth quarter valued at $23,765,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on KGC. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Scotiabank lifted their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $18.00.

Kinross Gold Price Performance

KGC stock traded up $0.63 during mid-day trading on Monday, hitting $15.96. 13,075,160 shares of the stock were exchanged, compared to its average volume of 18,657,597. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The business has a fifty day moving average price of $15.11 and a 200 day moving average price of $13.18. Kinross Gold Corporation has a 12 month low of $7.84 and a 12 month high of $16.19. The stock has a market capitalization of $19.57 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.60 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. The company's revenue was up 38.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.