Kinross Gold Corporation $KGC Shares Purchased by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in Kinross Gold Corporation by 1,963.7% in the first quarter, acquiring a total of 72,847 shares worth $919,000.
• Kinross Gold is experiencing positive analyst sentiment, with two analysts rating it as a hold, six as buy, and three as strong buy, and a consensus price target of $20.07.
• The company recently reported earnings of $0.44 EPS for the last quarter, exceeding estimates, with a year-over-year revenue increase of 41.7%.

Gulf International Bank UK Ltd grew its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 1,963.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,847 shares of the mining company's stock after acquiring an additional 69,317 shares during the quarter. Gulf International Bank UK Ltd's holdings in Kinross Gold were worth $919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Kinross Gold by 8.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock worth $2,204,000 after buying an additional 18,135 shares during the last quarter. State of Wyoming increased its position in shares of Kinross Gold by 56.5% in the 4th quarter. State of Wyoming now owns 120,777 shares of the mining company's stock valued at $1,120,000 after acquiring an additional 43,595 shares during the period. Hsbc Holdings PLC raised its stake in Kinross Gold by 77.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,230,858 shares of the mining company's stock worth $20,587,000 after acquiring an additional 975,147 shares during the last quarter. Artemis Investment Management LLP lifted its position in Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after acquiring an additional 5,400,447 shares during the period. Finally, Bessemer Group Inc. grew its stake in Kinross Gold by 264.7% during the 1st quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company's stock valued at $1,960,000 after purchasing an additional 112,800 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KGC has been the subject of several research analyst reports. UBS Group started coverage on Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective for the company. CIBC raised their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Scotiabank lifted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $20.07.

Kinross Gold Price Performance

Shares of Kinross Gold stock traded up $0.2150 during trading hours on Friday, reaching $19.7250. The stock had a trading volume of 4,445,440 shares, compared to its average volume of 20,745,330. The stock's 50 day moving average is $16.56 and its 200 day moving average is $14.33. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.31 and a twelve month high of $19.81. The firm has a market capitalization of $23.97 billion, a PE ratio of 15.92, a PEG ratio of 0.64 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 EPS. Equities analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's payout ratio is presently 9.68%.

Kinross Gold 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.