Credit Agricole S A Grows Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• Credit Agricole S A increased its stake in Kinross Gold Corporation by 74.7%, acquiring an additional 448,216 shares and now owning 1,048,158 shares valued at $13.2 million.
• Kinross Gold reported quarterly earnings of $0.44 EPS, exceeding analysts' expectations, and achieved a revenue of $1.75 billion, up 41.7% year-over-year.
• The company announced a quarterly dividend of $0.03 per share, which translates to an annualized yield of 0.6% and a payout ratio of 9.68%.

Credit Agricole S A boosted its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 74.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,048,158 shares of the mining company's stock after acquiring an additional 448,216 shares during the quarter. Credit Agricole S A owned 0.09% of Kinross Gold worth $13,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Kinross Gold during the first quarter valued at about $55,000. Farther Finance Advisors LLC boosted its position in Kinross Gold by 188.6% during the first 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. Headlands Technologies LLC purchased a new stake in Kinross Gold during the first quarter valued at about $77,000. Bruce G. Allen Investments LLC boosted its position in Kinross Gold by 68.6% during the first 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. Finally, SBI Securities Co. Ltd. boosted its position in Kinross Gold by 39.3% during the first 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. Institutional investors own 63.69% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. 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 report on Friday, August 1st. Royal Bank Of Canada raised their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, UBS Group started coverage on Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Stock Up 2.1%

Kinross Gold stock traded up $0.41 during trading hours on Tuesday, hitting $20.13. 6,093,864 shares of the stock traded hands, compared to its average volume of 20,672,717. The firm's 50-day moving average price is $16.72 and its two-hundred day moving average price is $14.47. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The company has a market cap of $24.46 billion, a PE ratio of 16.23, a PEG ratio of 0.65 and a beta of 0.55. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $20.22.

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

Kinross Gold Dividend Announcement

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

About Kinross Gold

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.