Mediolanum International Funds Ltd Grows Position in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Mediolanum International Funds Ltd increased its stake in Kinross Gold Corporation by 114.4% in the first quarter, holding 588,507 shares now valued at approximately $7.37 million.
• Several institutional investors have also boosted their positions in Kinross Gold, with 63.69% of the stock owned by institutions and hedge funds.
• Kinross Gold reported an earnings per share (EPS) of $0.30 for the last quarter, exceeding analysts' expectations and marking a 38.5% revenue increase year-over-year.

Mediolanum International Funds Ltd increased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 114.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 588,507 shares of the mining company's stock after purchasing an additional 314,079 shares during the quarter. Mediolanum International Funds Ltd's holdings in Kinross Gold were worth $7,367,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares in the last quarter. Blue Trust Inc. increased its position in shares of Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock worth $98,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Helium Advisors LLC purchased a new stake in shares of Kinross Gold during the fourth quarter worth approximately $97,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on KGC shares. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research report on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Royal Bank Of Canada upped their target price on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Finally, CIBC upped their target price on Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.00.

Kinross Gold Trading Down 1.9%

Shares of Kinross Gold stock traded down $0.31 during trading hours on Wednesday, hitting $15.70. The company's stock had a trading volume of 12,161,760 shares, compared to its average volume of 20,939,059. Kinross Gold Corporation has a twelve month low of $7.84 and a twelve month high of $16.52. The firm has a fifty day moving average of $15.42 and a 200-day moving average of $13.45. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 0.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.22 and a current ratio of 2.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company's quarterly revenue was up 38.5% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. Kinross Gold's payout ratio is currently 12.24%.

About Kinross Gold

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.