ASR Vermogensbeheer N.V. Makes New Investment in Kinross Gold Corporation (NYSE:KGC)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $958,000 in Kinross Gold Corporation, acquiring 76,069 shares during the first quarter.
• Kinross Gold reported an earnings per share (EPS) of $0.44 for the last quarter, exceeding expectations, with a revenue increase of 41.7% year-over-year.
• The company declared a quarterly dividend of $0.03 per share, representing a 0.6% dividend yield and a payout ratio of 9.68%.

ASR Vermogensbeheer N.V. bought a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 76,069 shares of the mining company's stock, valued at approximately $958,000.

Other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of Kinross Gold in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC increased its stake in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares during the period. Bruce G. Allen Investments LLC increased its stake in Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after buying an additional 2,561 shares during the period. SBI Securities Co. Ltd. increased its stake in Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after buying an additional 1,787 shares during the period. Finally, Helium Advisors LLC acquired a new position in Kinross Gold in the 4th quarter valued at approximately $97,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of KGC stock traded down $0.27 during mid-day trading on Wednesday, reaching $19.06. The company's stock had a trading volume of 20,736,993 shares, compared to its average volume of 20,984,305. The company has a market cap of $23.23 billion, a P/E ratio of 15.37, a PEG ratio of 0.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm's 50-day moving average is $16.01 and its two-hundred day moving average is $13.96. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.45.

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

Kinross Gold Announces Dividend

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

Analyst Ratings Changes

KGC has been the subject of several recent research reports. CIBC boosted their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada boosted their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Canaccord Genuity Group boosted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $20.07.

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.