Ninety One UK Ltd Grows Position in Kinross Gold Corporation $KGC

Key Points

• Ninety One UK Ltd increased its stake in Kinross Gold Corporation by 26.1%, owning approximately 5.3 million shares valued at $83.16 million as of its latest SEC filing.
• Kinross Gold reported a quarterly revenue of $1.75 billion, surpassing analysts' expectations, and achieved earnings per share of $0.44, beating estimates by $0.11.
• The company declared a quarterly dividend of $0.03 per share, reflecting an annualized yield of 0.5%.

Ninety One UK Ltd raised its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 26.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,329,502 shares of the mining company's stock after acquiring an additional 1,104,747 shares during the quarter. Ninety One UK Ltd owned approximately 0.43% of Kinross Gold worth $83,164,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its position in shares of Kinross Gold by 9.0% during the 2nd quarter. Truist Financial Corp now owns 302,645 shares of the mining company's stock worth $4,730,000 after purchasing an additional 25,093 shares during the last quarter. Union Bancaire Privee UBP SA lifted its holdings in Kinross Gold by 344.4% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 952,523 shares of the mining company's stock worth $13,738,000 after buying an additional 738,173 shares during the last quarter. Signaturefd LLC boosted its position in shares of Kinross Gold by 4.4% during the 2nd quarter. Signaturefd LLC now owns 43,192 shares of the mining company's stock worth $675,000 after acquiring an additional 1,812 shares in the last quarter. Kathmere Capital Management LLC boosted its position in shares of Kinross Gold by 21.5% during the 2nd quarter. Kathmere Capital Management LLC now owns 13,377 shares of the mining company's stock worth $209,000 after acquiring an additional 2,369 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Kinross Gold by 1,641.1% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 138,449 shares of the mining company's stock valued at $2,159,000 after acquiring an additional 130,497 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Trading Up 2.1%

Shares of Kinross Gold stock opened at $24.87 on Wednesday. The firm has a market cap of $30.15 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 0.78 and a beta of 0.62. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $25.01. The company's 50-day simple moving average is $20.36 and its 200-day simple moving average is $16.50. 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 (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The firm's revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a 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%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 20th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their target price for the company from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group lifted their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Royal Bank Of Canada upped their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, CIBC lifted 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $21.07.

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.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.