Kinross Gold Corporation $KGC Stock: Ninety One UK Ltd Raises Stake

Key Points

• Ninety One UK Ltd increased its Kinross Gold stake by 214.1% in the third quarter, adding 5.87 million shares to own 8.61 million shares valued at approximately $208 million. Institutional investors collectively own 63.69% of the company.
• Kinross Gold reported quarterly EPS of $0.71, exceeding the $0.66 consensus estimate, while revenue reached $2.22 billion and rose 29.5% year over year.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $38.89, although several firms recently reduced their targets. The company also pays a quarterly dividend of $0.04 per share, yielding 0.7%.

Ninety One UK Ltd grew its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 214.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,614,109 shares of the mining company's stock after purchasing an additional 5,872,044 shares during the period. Ninety One UK Ltd owned 0.73% of Kinross Gold worth $207,996,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Continuum Advisory LLC bought a new stake in shares of Kinross Gold during the 2nd quarter valued at about $26,000. Ascentis Independent Advisors bought a new position in Kinross Gold in the first quarter worth about $29,000. Caitlin John LLC lifted its holdings in Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after acquiring an additional 400 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Kinross Gold by 80.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Finally, Archer Investment Corp acquired a new position in Kinross Gold in the first quarter valued at approximately $46,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

NYSE KGC traded up $1.04 on Thursday, reaching $23.29. The company's stock had a trading volume of 3,408,555 shares, compared to its average volume of 9,272,911. Kinross Gold Corporation has a twelve month low of $21.90 and a twelve month high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The firm's 50 day moving average is $27.70 and its two-hundred day moving average is $27.75. The stock has a market cap of $27.58 billion, a PE ratio of 8.80, a PEG ratio of 0.77 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business's revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, sell-side analysts predict that Kinross Gold Corporation will post 2.43 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, August 20th. Kinross Gold's dividend payout ratio (DPR) is presently 6.06%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KGC shares. Scotiabank lowered their target price on Kinross Gold from $41.00 to $39.00 and set an "outperform" rating for the company in a report on Thursday, September 24th. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, July 31st. TD cut their price target on Kinross Gold from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, September 24th. Wall Street Zen lowered Kinross Gold from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, UBS Group lowered their price objective on Kinross Gold from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. 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. Based on data from MarketBeat, Kinross Gold has an average rating of "Moderate Buy" and an average price target of $38.89.

About Kinross Gold

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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