Kinross Gold Corporation $KGC Shares Acquired by Addenda Capital Inc.

Addenda Capital Inc. boosted its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 21.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,654,910 shares of the mining company's stock after purchasing an additional 287,490 shares during the quarter. Kinross Gold comprises 1.3% of Addenda Capital Inc.'s investment portfolio, making the stock its 23rd largest holding. Addenda Capital Inc. owned 0.14% of Kinross Gold worth $39,089,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Parallel Advisors LLC lifted its position in Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company's stock worth $262,000 after acquiring an additional 292 shares during the period. Caitlin John LLC lifted its holdings in shares of Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after purchasing an additional 400 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after purchasing an additional 473 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. grew its position in Kinross Gold by 0.4% in the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company's stock valued at $3,329,000 after buying an additional 500 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its position in Kinross Gold by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock valued at $629,000 after buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. UBS Group reduced their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada dropped their target price on Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and an average price target of $38.43.

Kinross Gold Price Performance

KGC stock opened at $31.30 on Monday. The firm has a 50 day moving average of $25.78 and a 200-day moving average of $29.09. The company has a market cap of $37.13 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.84 and a beta of 0.78. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $20.19 and a 12-month high of $39.11.

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

Kinross Gold Announces Dividend

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

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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