Invesco Ltd. Has $76.51 Million Stake in Kinross Gold Corporation $KGC

Key Points

• Invesco Ltd. reduced its stake in Kinross Gold by 17.6%, selling 1,296,469 shares, leaving it with approximately 6 million shares valued at $76.5 million.
• Several institutional investors, including Vanguard Group and Mackenzie Financial Corp, have increased their positions in Kinross Gold, indicating strong institutional interest.
• The company's stock has seen positive analyst recommendations, with price targets raised and a consensus rating of "Buy" among various research firms.

Invesco Ltd. cut its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,067,321 shares of the mining company's stock after selling 1,296,469 shares during the quarter. Invesco Ltd. owned approximately 0.49% of Kinross Gold worth $76,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in Kinross Gold during the 1st quarter valued at $55,000. Farther Finance Advisors LLC boosted its stake in Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Headlands Technologies LLC bought a new position in Kinross Gold during the 1st quarter valued at $77,000. Bruce G. Allen Investments LLC boosted its stake in Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after acquiring an additional 1,787 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 2.3%

Shares of NYSE KGC traded up $0.4320 during mid-day trading on Thursday, reaching $19.5120. The company had a trading volume of 15,910,512 shares, compared to its average volume of 19,800,500. Kinross Gold Corporation has a twelve month low of $8.31 and a twelve month high of $19.55. 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 stock has a market capitalization of $23.71 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. The stock's 50 day moving average is $16.56 and its 200-day moving average is $14.33.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $0.14 earnings per share. Kinross Gold's revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold's dividend payout ratio is 9.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KGC shares. Royal Bank Of Canada increased their price objective on 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 started coverage on Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price objective for the company. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, Scotiabank increased their target price on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price 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.