Kinross Gold Corporation (NYSE:KGC) Shares Acquired by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Kinross Gold Corporation by 52.6%, bringing its total holdings to 63,868 shares valued at $770,000.
• Several analysts have upgraded their ratings on Kinross Gold, with price targets ranging from $15.00 to $19.00, indicating a generally positive outlook on the stock.
• Kinross Gold reported a quarterly EPS of $0.44, surpassing estimates and showing a year-over-year revenue increase of 41.7% to $1.75 billion.

Baader Bank Aktiengesellschaft grew its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 52.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,868 shares of the mining company's stock after acquiring an additional 22,006 shares during the period. Baader Bank Aktiengesellschaft's holdings in Kinross Gold were worth $770,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bayforest Capital Ltd lifted its position in shares of Kinross Gold by 481.4% in the 1st quarter. Bayforest Capital Ltd now owns 42,397 shares of the mining company's stock worth $535,000 after purchasing an additional 35,105 shares during the period. Banque Cantonale Vaudoise acquired a new position in Kinross Gold during the 1st quarter valued at approximately $55,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Kinross Gold by 3.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,028,811 shares of the mining company's stock valued at $12,960,000 after purchasing an additional 37,822 shares in the last quarter. TD Asset Management Inc increased its stake in Kinross Gold by 1.9% during the 1st quarter. TD Asset Management Inc now owns 4,085,091 shares of the mining company's stock valued at $51,459,000 after purchasing an additional 77,605 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its stake in shares of Kinross Gold by 114.4% in the first quarter. Mediolanum International Funds Ltd now owns 588,507 shares of the mining company's stock worth $7,367,000 after acquiring an additional 314,079 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on KGC. Royal Bank Of Canada raised their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group initiated coverage on shares of Kinross Gold in a research note on Monday. They set a "buy" rating and a $20.00 target price on the stock. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. CIBC increased their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research note on Friday. Finally, National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $18.50.

Kinross Gold Price Performance

Shares of NYSE:KGC traded up $0.95 during midday trading on Monday, hitting $17.16. The company's stock had a trading volume of 11,317,667 shares, compared to its average volume of 20,980,230. The business's 50 day simple moving average is $15.50 and its 200 day simple moving average is $13.59. 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 company has a market cap of $20.91 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.55 and a beta of 0.55. Kinross Gold Corporation has a 12-month low of $7.84 and a 12-month high of $17.22.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a $0.03 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.7%. Kinross Gold's dividend payout ratio is 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.