Kinross Gold Corporation $KGC Shares Purchased by Mudita Advisors LLP

Key Points

• Mudita Advisors LLP increased its holdings in Kinross Gold Corporation by 25.7%, now owning 471,200 shares worth approximately $5,942,000.
• The firm recently reported earnings of $0.44 EPS, exceeding estimates, with a year-over-year revenue increase of 41.7%.
• Kinross Gold announced a quarterly dividend of $0.03 per share, indicating a 0.5% dividend yield for investors.

Mudita Advisors LLP grew its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 25.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,200 shares of the mining company's stock after buying an additional 96,200 shares during the period. Kinross Gold accounts for approximately 3.0% of Mudita Advisors LLP's portfolio, making the stock its 12th largest holding. Mudita Advisors LLP's holdings in Kinross Gold were worth $5,942,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Boston Partners increased its holdings in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Man Group plc increased its holdings in shares of Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after acquiring an additional 5,871,904 shares in the last quarter. Artemis Investment Management LLP increased its holdings in shares of Kinross Gold by 365.8% during the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after acquiring an additional 5,400,447 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock valued at $87,639,000 after acquiring an additional 3,398,687 shares in the last quarter. Finally, AustralianSuper Pty Ltd bought a new stake in Kinross Gold in the 1st quarter worth about $33,877,000. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on KGC shares. CIBC raised their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. 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 report on Wednesday, June 4th. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Kinross Gold Stock Performance

Shares of Kinross Gold stock traded down $0.05 on Monday, reaching $23.24. 7,456,201 shares of the stock were exchanged, compared to its average volume of 20,386,410. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $23.65. The firm has a market capitalization of $28.24 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.77 and a beta of 0.62. The business has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $15.49.

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

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's payout ratio is 9.68%.

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.