Korea Investment CORP Acquires 254,102 Shares of Kinross Gold Corporation $KGC

Key Points

• Korea Investment CORP increased its stake in Kinross Gold Corporation by 20.5%, acquiring 254,102 additional shares to reach a total of 1,494,360 shares.
• Kinross Gold reported $0.44 earnings per share (EPS) for the last quarter, surpassing analysts' expectations, with a total revenue of $1.75 billion.
• The company also declared a quarterly dividend of $0.03 per share, representing an annualized yield of 0.6%, to be paid on September 4th.

Korea Investment CORP increased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494,360 shares of the mining company's stock after acquiring an additional 254,102 shares during the quarter. Korea Investment CORP owned about 0.12% of Kinross Gold worth $18,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Capital Investment Advisors LLC increased its stake in shares of Kinross Gold by 3.1% in the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after acquiring an additional 850 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Kinross Gold by 3.0% in the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock worth $438,000 after acquiring an additional 1,013 shares in the last quarter. S.A. Mason LLC increased its stake in shares of Kinross Gold by 6.0% in the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock worth $281,000 after acquiring an additional 1,250 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Kinross Gold by 12.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock worth $142,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Syon Capital LLC increased its stake in shares of Kinross Gold by 2.3% in the 4th quarter. Syon Capital LLC now owns 57,022 shares of the mining company's stock worth $529,000 after acquiring an additional 1,284 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $19.0960 on Thursday. The firm's 50-day moving average price is $16.48 and its 200-day moving average price is $14.27. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market cap of $23.21 billion, a PE ratio of 15.40, a PEG ratio of 0.62 and a beta of 0.55. Kinross Gold Corporation has a 52-week low of $8.31 and a 52-week high of $19.52.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business's quarterly revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 EPS. As a group, analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KGC shares. UBS Group started coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Scotiabank increased 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 report on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Kinross Gold has a consensus rating of "Buy" and an average price target of $20.07.

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.

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