88,250 Shares in Kinross Gold Corporation (NYSE:KGC) Purchased by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC purchased 88,250 shares of Kinross Gold Corporation for approximately $1.1 million in the first quarter.
• Several institutional investors, including Hsbc Holdings PLC and Artemis Investment Management LLP, significantly increased their holdings in Kinross Gold during the fourth quarter, reflecting growing confidence in the company.
• Kinross Gold recently reported earnings of $0.44 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.03 per share, indicating strong financial performance and shareholder returns.

Informed Momentum Co LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 88,250 shares of the mining company's stock, valued at approximately $1,112,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Kinross Gold by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock worth $2,204,000 after buying an additional 18,135 shares during the period. State of Wyoming boosted its holdings in Kinross Gold by 56.5% in the 4th quarter. State of Wyoming now owns 120,777 shares of the mining company's stock valued at $1,120,000 after purchasing an additional 43,595 shares during the period. Hsbc Holdings PLC boosted its holdings in Kinross Gold by 77.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,230,858 shares of the mining company's stock valued at $20,587,000 after purchasing an additional 975,147 shares during the period. Artemis Investment Management LLP boosted its holdings in Kinross Gold by 365.8% in the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after purchasing an additional 5,400,447 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Kinross Gold by 264.7% in the 1st quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company's stock valued at $1,960,000 after purchasing an additional 112,800 shares during the period. Institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Canaccord Genuity Group boosted their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, CIBC boosted their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $20.07.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $19.34 on Wednesday. The company has a 50 day moving average of $16.01 and a 200-day moving average of $13.96. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.38. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The company has a market cap of $23.57 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm's quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 EPS. As a group, equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's dividend payout ratio is currently 9.68%.

Kinross Gold 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.

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