Jupiter Asset Management Ltd. Grows 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. increased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 166.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 518,654 shares of the mining company's stock after purchasing 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.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Kinross Gold during the first quarter worth about $55,000. Farther Finance Advisors LLC boosted its stake in Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after acquiring an additional 3,659 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after acquiring an additional 2,561 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Kinross Gold by 39.3% in the first 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. Finally, Blue Trust Inc. boosted its stake in Kinross Gold by 37.0% in the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after acquiring an additional 2,110 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $16.20 on Monday. The stock has a market capitalization of $19.74 billion, a P/E ratio of 13.06, a PEG ratio of 0.55 and a beta of 0.55. 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 firm's 50 day moving average is $15.50 and its 200 day moving average is $13.59. Kinross Gold Corporation has a 12 month low of $7.84 and a 12 month high of $16.52.

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

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's dividend payout ratio is 9.68%.

Analysts Set New Price Targets

A number of research analysts have weighed in on KGC shares. Royal Bank Of Canada boosted their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. BMO Capital Markets started coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, CIBC boosted their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Kinross Gold has an average rating of "Buy" and a consensus price target of $18.20.

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.

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