Amundi Buys 2,016,654 Shares of Kinross Gold Corporation $KGC

Key Points

• Amundi increased its Kinross Gold stake by 31.7% in the second quarter, purchasing 2,016,654 shares and bringing its holdings to 8,376,494 shares, worth approximately $197.9 million.
• 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 paid a quarterly dividend of $0.04 per share.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $38.43 compared with the stock’s reported price of $30.18; institutional investors own 63.69% of the company.

Amundi boosted its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 31.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,376,494 shares of the mining company's stock after purchasing an additional 2,016,654 shares during the period. Amundi owned 0.71% of Kinross Gold worth $197,878,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Groupe la Francaise raised its position in Kinross Gold by 11.5% during the second quarter. Groupe la Francaise now owns 1,115,000 shares of the mining company's stock worth $26,411,000 after acquiring an additional 115,000 shares in the last quarter. Munich Reinsurance Co Stock Corp in Munich increased its position in Kinross Gold by 39.8% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 662,431 shares of the mining company's stock worth $15,679,000 after buying an additional 188,690 shares during the last quarter. Continuum Advisory LLC bought a new stake in Kinross Gold in the second quarter valued at approximately $26,000. Nykredit A S bought a new position in shares of Kinross Gold during the 2nd quarter worth approximately $13,324,000. Finally, XML Financial LLC increased its holdings in shares of Kinross Gold by 5.9% during the 2nd quarter. XML Financial LLC now owns 12,550 shares of the mining company's stock worth $296,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $30.18 on Wednesday. The stock has a market capitalization of $35.74 billion, a PE ratio of 11.43, a P/E/G ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a fifty-two week low of $21.94 and a fifty-two week high of $39.11. 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 fifty day moving average price of $26.65 and a two-hundred day moving average price of $28.92.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts predict that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 20th. Kinross Gold's dividend payout ratio is currently 6.06%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Freedom Capital raised Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Weiss Ratings lowered shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Wall Street Zen cut shares of Kinross Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. UBS Group reduced 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. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.43.

Kinross Gold Company 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.

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