Ninety One SA PTY Ltd Makes New Investment in Kinross Gold Corporation (NYSE:KGC)

Ninety One SA PTY Ltd acquired a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 investment portfolio, making the stock its 5th biggest position. Ninety One SA PTY Ltd owned about 0.19% of Kinross Gold as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Jones Financial Companies Lllp boosted its holdings in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after purchasing an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $42,000. Farther Finance Advisors LLC raised its position in Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares during the period. Finally, Bruce G. Allen Investments LLC raised its position in Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

KGC stock traded up $0.15 on Wednesday, hitting $15.34. 13,574,662 shares of the company's stock traded hands, compared to its average volume of 18,788,358. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.10. The stock has a market cap of $18.82 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.61 and a beta of 0.63. The stock has a fifty day moving average of $15.01 and a 200-day moving average of $12.82. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating 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 firm 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 business earned $0.10 EPS. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of recent research reports. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. BMO Capital Markets began coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $17.00.

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.