Groupe la Francaise Acquires 115,000 Shares of Kinross Gold Corporation $KGC

Key Points

• Groupe la Francaise increased its Kinross Gold stake by 11.5% in the second quarter, purchasing 115,000 additional shares and bringing its holdings to 1.115 million shares worth approximately $26.4 million.
• Kinross Gold 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 paid a quarterly dividend of $0.04 per share.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.43, compared with the stock’s reported price of $30.87; institutional investors own 63.69% of the company.

Groupe la Francaise grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 11.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,115,000 shares of the mining company's stock after buying an additional 115,000 shares during the quarter. Groupe la Francaise owned 0.09% of Kinross Gold worth $26,411,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KGC. Ascentis Independent Advisors bought a new stake in Kinross Gold during the first quarter worth approximately $29,000. Virtus Advisers LLC bought a new position in shares of Kinross Gold during the 3rd quarter valued at approximately $28,000. Continuum Advisory LLC bought a new position in shares of Kinross Gold during the 2nd quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd raised its holdings in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after buying an additional 589 shares during the period. Finally, Caitlin John LLC lifted its position in Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after buying an additional 400 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

NYSE:KGC opened at $30.87 on Monday. The company has a market cap of $36.57 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a twelve month low of $21.61 and a twelve month high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $26.38 and a 200-day simple moving average of $28.97.

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, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm's revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. Analysts anticipate that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold's payout ratio is currently 6.06%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank lowered their target price on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. Jefferies Financial Group dropped their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Wall Street Zen downgraded shares of Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Zacks Research lowered shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research 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 data from MarketBeat.com, Kinross Gold presently has a consensus rating of "Moderate Buy" and an average target price of $38.43.

Kinross Gold Profile

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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