Kinross Gold Corporation $KGC Shares Purchased by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. grew its stake in Kinross Gold by 7.5% in Q4, adding 273,042 shares to hold 3,920,099 shares (about 0.33% of the company) valued at $110.39 million.
• Kinross beat quarterly estimates with $0.67 EPS vs $0.55 and reported $2.01 billion in revenue (+42.9% YoY), while profitability was strong (ROE 28.2%, net margin 33.9%) and the company raised its quarterly dividend to $0.04 ($0.16 annual; 0.5% yield).
• Analyst sentiment is broadly positive with a MarketBeat consensus of "Moderate Buy" and a $38.81 price target, several broker moves (RBC upgraded, UBS trimmed its target), and institutional ownership at 63.69%.

Massachusetts Financial Services Co. MA grew its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,920,099 shares of the mining company's stock after acquiring an additional 273,042 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.33% of Kinross Gold worth $110,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Caitlin John LLC acquired a new stake in Kinross Gold during the third quarter worth about $26,000. V Square Quantitative Management LLC acquired a new stake in Kinross Gold during the fourth quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold during the third quarter worth about $28,000. GPS Wealth Strategies Group LLC acquired a new stake in Kinross Gold during the third quarter worth about $29,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kinross Gold during the third quarter worth about $31,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 0.6%

Shares of KGC opened at $33.57 on Tuesday. The company has a market capitalization of $40.08 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.65 and a beta of 0.82. Kinross Gold Corporation has a one year low of $13.28 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The stock has a 50-day moving average price of $32.35 and a 200 day moving average price of $29.42.

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

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KGC. UBS Group decreased their target price on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, March 27th. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 14th. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. TD Securities decreased their target price 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. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

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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