Boston Partners Increases Holdings in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Boston Partners increased its stake in Kinross Gold Corporation by 36.5%, owning 47,526,913 shares valued at approximately $632.8 million.
• Several institutional investors significantly raised their stakes in Kinross Gold during the first quarter, with Gulf International Bank increasing its stake by 1,963.7%.
• Kinross Gold reported a 41.7% increase in quarterly revenue year-over-year, reaching $1.75 billion, and earnings per share exceeded estimates at $0.44.

Boston Partners increased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 36.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 47,526,913 shares of the mining company's stock after buying an additional 12,705,061 shares during the quarter. Boston Partners owned 3.86% of Kinross Gold worth $632,797,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in KGC. Gulf International Bank UK Ltd lifted its stake in Kinross Gold by 1,963.7% in the first quarter. Gulf International Bank UK Ltd now owns 72,847 shares of the mining company's stock valued at $919,000 after purchasing an additional 69,317 shares during the last quarter. LGT Fund Management Co Ltd. bought a new stake in shares of Kinross Gold in the first quarter valued at $1,913,000. Russell Investments Group Ltd. raised its stake in shares of Kinross Gold by 34.6% in the first quarter. Russell Investments Group Ltd. now owns 3,152,583 shares of the mining company's stock valued at $39,734,000 after buying an additional 809,624 shares during the period. Informed Momentum Co LLC purchased a new position in shares of Kinross Gold during the 1st quarter valued at $1,112,000. Finally, HighTower Advisors LLC grew its stake in shares of Kinross Gold by 697.3% during the 1st quarter. HighTower Advisors LLC now owns 97,742 shares of the mining company's stock worth $1,233,000 after acquiring an additional 85,483 shares during the period. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

KGC stock opened at $19.34 on Wednesday. The firm has a 50 day moving average of $16.01 and a 200-day moving average of $13.96. The firm has a market capitalization of $23.57 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. Kinross Gold Corporation has a 12 month low of $8.31 and a 12 month 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.

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

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on KGC shares. CIBC lifted their price objective on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Scotiabank increased their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Royal Bank Of Canada boosted 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. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a research note on Monday, June 30th. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $20.07.

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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