Mudita Advisors LLP Grows Holdings in Kinross Gold Corporation $KGC

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 increased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 25.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 471,200 shares of the mining company's stock after purchasing an additional 96,200 shares during the period. Kinross Gold makes up about 3.0% of Mudita Advisors LLP's holdings, making the stock its 12th biggest holding. Mudita Advisors LLP's holdings in Kinross Gold were worth $5,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Kinross Gold during the 1st quarter valued at about $55,000. Farther Finance Advisors LLC boosted its position in shares of Kinross Gold by 188.6% in 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 during the period. Headlands Technologies LLC bought a new position in shares of Kinross Gold in the first quarter worth approximately $77,000. Bruce G. Allen Investments LLC boosted 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 acquiring an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted 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 acquiring an additional 1,787 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KGC shares. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. Canaccord Genuity Group increased their target price 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. CIBC lifted their target price on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, Royal Bank Of Canada increased their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Kinross Gold Stock Performance

NYSE:KGC opened at $22.37 on Wednesday. The firm's fifty day moving average price is $18.00 and its 200 day moving average price is $15.20. Kinross Gold Corporation has a 1-year low of $8.55 and a 1-year high of $22.85. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm has a market cap of $27.19 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio is currently 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.

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