Bank of Nova Scotia Takes Position in Kinross Gold Corporation $KGC

Key Points

• Bank of Nova Scotia acquired 5.31 million Kinross Gold shares worth approximately $125.8 million, giving it a 0.45% stake. Institutional investors collectively own 63.69% of the company.
• Analyst sentiment remains broadly positive but mixed: Kinross has a “Moderate Buy” consensus rating and an average price target of $38.43, despite some target-price cuts and a Zacks “Strong Sell” downgrade.
• 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 declared a quarterly dividend of $0.04 per share, representing a 0.5% annualized yield.

Bank of Nova Scotia bought a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,314,702 shares of the mining company's stock, valued at approximately $125,828,000. Bank of Nova Scotia owned 0.45% of Kinross Gold at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter valued at $518,656,000. Deutsche Bank AG acquired a new position in shares of Kinross Gold during the 2nd quarter worth $217,800,000. AQR Capital Management LLC raised its stake in shares of Kinross Gold by 4,443.4% during the 4th quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company's stock worth $189,808,000 after buying an additional 6,590,380 shares during the last quarter. Man Group plc boosted its position in shares of Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock worth $261,646,000 after buying an additional 5,411,491 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Kinross Gold by 81.2% in the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company's stock worth $126,191,000 after buying an additional 3,617,320 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of analyst reports. Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Scotiabank decreased their price target on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research downgraded shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of "Moderate Buy" and an average price target of $38.43.

Kinross Gold Stock Up 4.3%

Shares of KGC opened at $32.78 on Friday. Kinross Gold Corporation has a fifty-two week low of $19.19 and a fifty-two week high of $39.11. The company's fifty day moving average is $25.25 and its two-hundred day moving average is $29.12. The firm has a market cap of $38.88 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. Kinross Gold's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. Analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold's dividend payout ratio is currently 6.06%.

Kinross Gold News Summary

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Gold prices remain a key catalyst for Kinross, because higher bullion prices can improve realized revenue, margins and free cash flow for the gold producer. This keeps KGC in focus as investors assess the outlook for precious-metals prices. What Puts Kinross Gold in Focus as Gold Prices Move?
• Neutral Sentiment: Investors are also monitoring Kinross’s cost outlook. Production costs are especially important if gold prices retreat, as higher costs could compress margins; the latest coverage focuses on this key profitability signal. What Is the Key Cost Signal for Kinross Gold?
• Negative Sentiment: Zacks Research lowered EPS forecasts across multiple periods and maintained a “Strong Sell” rating. Estimates fell for Q3 2026 to $0.57 from $0.76, FY2026 to $2.63 from $2.79, FY2027 to $2.48 from $2.83 and FY2028 to $2.36 from $2.78. Forecasts for several 2027 quarters were also reduced. Although Q4 2026 EPS was raised modestly to $0.64 from $0.62, the broader revisions imply weaker expected earnings growth and may pressure the shares.

About Kinross Gold

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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