Jupiter Topco LLC Purchases New Position in Kinross Gold Corporation $KGC

Key Points

• Jupiter Topco LLC acquired 76,332 Kinross Gold shares worth approximately $1.8 million in the second quarter. Institutional investors and hedge funds collectively own 63.69% of the company.
• Analyst sentiment remains positive overall, with a consensus rating of “Moderate Buy” and an average price target of $38.43, despite several firms recently lowering their targets and Zacks downgrading the stock to “strong sell.”
• 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 declared a quarterly dividend of $0.04 per share, representing a 0.5% yield.

Jupiter Topco LLC purchased a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,332 shares of the mining company's stock, valued at approximately $1,807,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. U S Global Investors Inc. lifted its position in Kinross Gold by 95.4% in the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company's stock valued at $5,962,000 after acquiring an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in shares of Kinross Gold during the first quarter worth about $2,263,000. TD Asset Management Inc grew its holdings in shares of Kinross Gold by 4.7% during the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company's stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc lifted its holdings in shares of Kinross Gold by 7.6% in the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company's stock valued at $352,751,000 after purchasing an additional 882,373 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Kinross Gold in the 2nd quarter valued at about $217,800,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on KGC. Scotiabank dropped their price target on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, July 14th. Zacks Research cut Kinross Gold from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Weiss Ratings cut Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. UBS Group decreased their price objective on Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, Jefferies Financial Group lowered their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold Stock Up 4.5%

Kinross Gold stock opened at $31.63 on Friday. Kinross Gold Corporation has a twelve month low of $21.49 and a twelve month high of $39.11. The stock has a 50 day moving average of $26.25 and a two-hundred day moving average of $29.00. 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 market capitalization of $37.47 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.82 and a beta of 0.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, research analysts expect that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, August 20th. Kinross Gold's dividend payout ratio (DPR) is 6.06%.

Kinross Gold Company 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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