Amundi Acquires 909,010 Shares of Kinross Gold Corporation $KGC

Key Points

• Amundi increased its stake in Kinross Gold Corporation by 15.7%, acquiring an additional 909,010 shares, bringing its total ownership to approximately 6.7 million shares valued at $85 million.
• Kinross Gold reported a 41.7% year-over-year revenue increase of $1.75 billion for the latest quarter and earnings per share of $0.44, exceeding analyst expectations.
• The company also announced a quarterly dividend of $0.03 per share with an annual yield of 0.5%, reflecting a dividend payout ratio of 9.68%.

Amundi lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 15.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,703,499 shares of the mining company's stock after purchasing an additional 909,010 shares during the quarter. Amundi owned approximately 0.54% of Kinross Gold worth $85,067,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital Investment Advisors LLC increased its stake in shares of Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after purchasing an additional 850 shares during the last quarter. Cresset Asset Management LLC increased its stake in shares of Kinross Gold by 3.0% during the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock worth $438,000 after purchasing an additional 1,013 shares during the last quarter. S.A. Mason LLC increased its stake in shares of Kinross Gold by 6.0% during the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock worth $281,000 after purchasing an additional 1,250 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Kinross Gold by 12.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock valued at $142,000 after buying an additional 1,250 shares during the last quarter. Finally, Cigna Investments Inc. New grew its stake in Kinross Gold by 6.4% in the 1st quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company's stock valued at $291,000 after buying an additional 1,386 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on KGC. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. 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 target price on the stock. 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, August 7th. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. Finally, Royal Bank Of Canada increased their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

Kinross Gold Stock Performance

Kinross Gold stock traded down $0.03 during mid-day trading on Friday, reaching $23.24. The company had a trading volume of 4,034,656 shares, compared to its average volume of 20,411,508. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $23.65. The company has a 50 day moving average of $18.30 and a 200-day moving average of $15.34. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.76 and a beta of 0.62.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during 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 firm's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. On average, sell-side analysts expect 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 was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is presently 9.68%.

Kinross Gold Company 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.