Jupiter Asset Management Ltd. Has $6.53 Million Holdings in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Jupiter Asset Management Ltd. increased its holdings in Kinross Gold Corporation by 166.2% during the 1st quarter, now owning 518,654 shares valued at $6.53 million.
• Kinross Gold reported a strong quarterly earnings performance, with an EPS of $0.44, exceeding analysts' expectations of $0.33, and revenue of $1.75 billion.
• The company recently announced a quarterly dividend of $0.03 per share, translating to an annualized yield of 0.7%, with a payout ratio of 9.68%.

Jupiter Asset Management Ltd. boosted its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 166.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 518,654 shares of the mining company's stock after acquiring an additional 323,788 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Kinross Gold were worth $6,533,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of Kinross Gold in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC boosted its stake in shares of Kinross Gold by 188.6% in 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 during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Kinross Gold by 68.6% in 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 during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Kinross Gold by 37.0% in the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Up 1.3%

KGC stock traded up $0.25 during mid-day trading on Friday, hitting $19.02. 14,962,943 shares of the company were exchanged, compared to its average volume of 21,009,559. 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 firm has a market cap of $23.18 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.62 and a beta of 0.55. The firm's 50 day simple moving average is $15.78 and its 200 day simple moving average is $13.76. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $19.25.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a $0.03 dividend. The ex-dividend date 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 (DPR) is 9.68%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KGC shares. Canaccord Genuity Group raised their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research note on Thursday. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their price target for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. CIBC increased their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. 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 report on Monday, June 30th. Finally, BMO Capital Markets started coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold currently 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.