Candriam S.C.A. Acquires 46,986 Shares of Kinross Gold Corporation $KGC

Key Points

• Candriam S.C.A. significantly increased its stake in Kinross Gold Corporation by 238.0% during the first quarter, holding a total of 66,725 shares worth approximately $841,000.
• Several hedge funds also boosted their positions in Kinross Gold, with Vanguard Group and Boston Partners increasing their stakes by 1.2% and 36.5%, respectively.
• Kinross Gold's recent quarterly earnings surpassed expectations with a reported $0.44 earnings per share, and the company has announced a quarterly dividend of $0.03 per share.

Candriam S.C.A. lifted its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 238.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,725 shares of the mining company's stock after buying an additional 46,986 shares during the period. Candriam S.C.A.'s holdings in Kinross Gold were worth $841,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Credit Agricole S A grew its position in shares of Kinross Gold by 74.7% during the first quarter. Credit Agricole S A now owns 1,048,158 shares of the mining company's stock worth $13,217,000 after buying an additional 448,216 shares in the last quarter. Hsbc Holdings PLC increased its position in Kinross Gold by 57.8% in the first quarter. Hsbc Holdings PLC now owns 3,521,039 shares of the mining company's stock worth $44,370,000 after buying an additional 1,290,181 shares during the period. Korea Investment CORP increased its stake in shares of Kinross Gold by 20.5% in the first quarter. Korea Investment CORP now owns 1,494,360 shares of the mining company's stock valued at $18,824,000 after purchasing an additional 254,102 shares during the period. Qtron Investments LLC raised its stake in shares of Kinross Gold by 13.5% during the first quarter. Qtron Investments LLC now owns 124,075 shares of the mining company's stock valued at $1,563,000 after purchasing an additional 14,712 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Kinross Gold by 12.0% during the first quarter. Northern Trust Corp now owns 1,326,988 shares of the mining company's stock worth $16,733,000 after purchasing an additional 141,967 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent research reports. Royal Bank Of Canada lifted their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Canaccord Genuity Group increased their price target on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and lifted their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, UBS Group began coverage on shares of Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective for the company. Two equities research 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. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $20.07.

Kinross Gold Stock Up 3.2%

Shares of NYSE:KGC traded up $0.64 on Friday, reaching $20.86. The company had a trading volume of 13,633,724 shares, compared to its average volume of 20,572,219. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $25.35 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.67 and a beta of 0.55. The stock has a 50-day moving average price of $17.00 and a 200 day moving average price of $14.61. Kinross Gold Corporation has a twelve month low of $8.31 and a twelve month high of $20.90.

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

Kinross Gold Dividend Announcement

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

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.