2,301,696 Shares in Kinross Gold Corporation (NYSE:KGC) Purchased by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd bought a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,301,696 shares of the mining company's stock, valued at approximately $28,898,000. Kinross Gold makes up about 5.4% of Ninety One SA PTY Ltd's portfolio, making the stock its 5th largest holding. Ninety One SA PTY Ltd owned 0.19% of Kinross Gold at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Kinross Gold in the 4th quarter worth about $280,697,000. Renaissance Technologies LLC boosted its stake in shares of Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Kinross Gold by 8.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after purchasing an additional 18,135 shares in the last quarter. Amundi boosted its stake in shares of Kinross Gold by 9.3% during the fourth quarter. Amundi now owns 5,794,489 shares of the mining company's stock valued at $53,715,000 after purchasing an additional 492,611 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Kinross Gold by 144.6% during the fourth quarter. Trexquant Investment LP now owns 2,023,864 shares of the mining company's stock valued at $18,761,000 after purchasing an additional 1,196,355 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on KGC. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. BMO Capital Markets started coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their target price for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Kinross Gold has an average rating of "Buy" and an average price target of $17.00.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.21 on Friday, hitting $15.55. 3,139,590 shares of the company were exchanged, compared to its average volume of 18,701,444. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.10. The stock's 50 day moving average price is $15.04 and its 200 day moving average price is $12.88. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $19.07 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. Sell-side analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 yield of 0.77%. Kinross Gold's payout ratio is 12.24%.

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.