Kinross Gold Corporation $KGC Shares Bought by Regal Partners Ltd

Key Points

• Regal Partners Ltd increased its stake in Kinross Gold by 79.9% in Q3 to 977,243 shares (about $24.28M), making KGC 1.7% of the fund's portfolio and its 16th largest holding.
• Kinross beat quarterly EPS expectations ($0.67 vs. $0.55), reported revenue of $2.01B (up 42.9% YoY), and declared a quarterly dividend of $0.04 per share (annualized $0.16, ~0.5% yield) payable March 26.
• Institutional ownership is high (~63.7%), with investors like Korea Investment CORP boosting their stakes dramatically (up 372.4% to 3.29M shares), and analysts hold a consensus Moderate Buy with an average price target of $36.31.

Regal Partners Ltd raised its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 79.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 977,243 shares of the mining company's stock after purchasing an additional 433,953 shares during the period. Kinross Gold accounts for 1.7% of Regal Partners Ltd's investment portfolio, making the stock its 16th largest holding. Regal Partners Ltd owned approximately 0.08% of Kinross Gold worth $24,284,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Kinross Gold by 7.0% during the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company's stock worth $224,000 after purchasing an additional 587 shares during the last quarter. Natixis Advisors LLC increased its holdings in Kinross Gold by 0.5% in the third quarter. Natixis Advisors LLC now owns 165,215 shares of the mining company's stock valued at $4,106,000 after buying an additional 840 shares during the last quarter. Korea Investment CORP increased its holdings in Kinross Gold by 372.4% in the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company's stock valued at $81,793,000 after buying an additional 2,597,455 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Kinross Gold by 2.3% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 305,265 shares of the mining company's stock valued at $7,582,000 after buying an additional 6,890 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Kinross Gold in the third quarter valued at $135,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $32.54 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. Kinross Gold Corporation has a 1 year low of $10.42 and a 1 year high of $39.11. The company has a market capitalization of $39.04 billion, a PE ratio of 16.60, a P/E/G ratio of 1.59 and a beta of 0.73. The company has a fifty day moving average of $33.45 and a two-hundred day moving average of $27.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company posted $0.20 earnings per share. The business's quarterly revenue was up 42.9% compared to the same quarter last year. As a group, analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. This is a boost from Kinross Gold's previous quarterly dividend of $0.04. Kinross Gold's dividend payout ratio (DPR) is 8.16%.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. TD Securities lowered their price objective on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Desjardins began coverage on Kinross Gold in a research report on Friday, November 28th. They set a "buy" rating on the stock. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research note on Wednesday, February 4th. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. Finally, UBS Group set a $43.00 price target on shares of Kinross Gold in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.31.

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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