Ninety One UK Ltd Has $53.23 Million Stock Position in Kinross Gold Corporation (NYSE:KGC)

Ninety One UK Ltd reduced its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 6.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,224,755 shares of the mining company's stock after selling 314,921 shares during the period. Ninety One UK Ltd owned 0.34% of Kinross Gold worth $53,227,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. US Bancorp DE increased its stake in shares of Kinross Gold by 33.7% in the fourth quarter. US Bancorp DE now owns 60,879 shares of the mining company's stock worth $564,000 after purchasing an additional 15,358 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after purchasing an additional 1,412 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $42,000. Atria Investments Inc acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $139,000. Finally, Aigen Investment Management LP acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $141,000. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on KGC shares. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. Royal Bank Of Canada upped their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price target for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Scotiabank increased their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets assumed coverage on Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Kinross Gold has a consensus rating of "Buy" and an average price target of $17.00.

Kinross Gold Stock Up 1.4%

KGC stock traded up $0.21 during mid-day trading on Friday, reaching $15.55. The company had a trading volume of 14,545,936 shares, compared to its average volume of 18,747,498. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The stock has a 50 day simple moving average of $15.07 and a two-hundred day simple moving average of $12.92. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 0.62 and a beta of 0.63. Kinross Gold Corporation has a 52 week low of $7.84 and a 52 week high of $16.10.

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

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.77%. Kinross Gold's payout ratio is 12.24%.

Kinross Gold Company 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.