Kinross Gold Corporation $KGC Stake Raised by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Kinross Gold stake by 5.7% in the third quarter, bringing its holdings to 805,507 shares valued at approximately $19.4 million. Institutional investors collectively own 63.69% of the company.
• Analyst sentiment remains broadly positive, with one Strong Buy, thirteen Buy, and two Hold ratings. Kinross has a consensus “Moderate Buy” rating and an average price target of $38.89, although UBS lowered its target to $28.
• Kinross shares recently traded down 0.7% at $23.39, while the company reported quarterly EPS of $0.71, exceeding estimates, and revenue growth of 29.5% year over year. The company also maintains a quarterly dividend of $0.04 per share.

Euro Pacific Asset Management LLC raised its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 5.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 805,507 shares of the mining company's stock after purchasing an additional 43,481 shares during the quarter. Kinross Gold accounts for approximately 1.3% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 21st biggest position. Euro Pacific Asset Management LLC owned about 0.07% of Kinross Gold worth $19,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KGC. Renaissance Technologies LLC lifted its position in shares of Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock worth $779,677,000 after buying an additional 571,100 shares during the last quarter. Man Group plc grew its position in Kinross Gold by 7.6% in the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company's stock valued at $352,751,000 after acquiring an additional 882,373 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Kinross Gold by 9.3% in the first quarter. The Manufacturers Life Insurance Company now owns 10,014,321 shares of the mining company's stock valued at $305,888,000 after acquiring an additional 854,802 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kinross Gold during the second quarter worth about $264,652,000. Finally, Bank of America Corp DE raised its stake in Kinross Gold by 11.4% during the second quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company's stock worth $255,637,000 after acquiring an additional 1,106,837 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KGC. UBS Group dropped their target price on shares of Kinross Gold from $30.00 to $28.00 and set a "buy" rating for the company in a report on Thursday, October 8th. Wall Street Zen lowered shares of Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research upgraded shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Citigroup reiterated a "buy" rating on shares of Kinross Gold in a research report on Monday, September 28th. Finally, Weiss Ratings raised shares of Kinross Gold from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.89.

Kinross Gold Trading Down 0.7%

Shares of KGC traded down $0.15 during trading hours on Tuesday, hitting $23.39. 5,395,166 shares of the stock were exchanged, compared to its average volume of 9,297,777. Kinross Gold Corporation has a fifty-two week low of $22.01 and a fifty-two week high of $39.11. The business has a 50-day moving average of $27.78 and a 200-day moving average of $27.83. The firm has a market capitalization of $27.71 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 0.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. Kinross Gold's revenue for the quarter was up 29.5% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 2.43 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold's payout ratio is currently 6.06%.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.

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