Plato Investment Management Ltd Has $4.59 Million Position in Kinross Gold Corporation $KGC

Key Points

• Plato Investment Management boosted its Kinross Gold stake by 135.9% in Q4, ending with 161,995 shares valued at about $4.59 million.
• Kinross Gold recently reported Q1 earnings of $0.71 per share, beating analyst estimates, while revenue rose 60.8% year over year to $2.37 billion.
• The company also announced a quarterly dividend of $0.04 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $38.81.

Plato Investment Management Ltd increased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 135.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 161,995 shares of the mining company's stock after buying an additional 93,311 shares during the quarter. Plato Investment Management Ltd's holdings in Kinross Gold were worth $4,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Asset Management SPA SGR increased its stake in shares of Kinross Gold by 20.9% in the fourth quarter. Generali Asset Management SPA SGR now owns 64,638 shares of the mining company's stock valued at $1,820,000 after buying an additional 11,173 shares during the period. MGO One Seven LLC boosted its holdings in Kinross Gold by 397.2% in the fourth quarter. MGO One Seven LLC now owns 40,829 shares of the mining company's stock valued at $1,150,000 after acquiring an additional 32,617 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Kinross Gold by 10.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 59,809 shares of the mining company's stock valued at $1,684,000 after acquiring an additional 5,582 shares during the last quarter. PKO Investment Management Joint Stock Co boosted its holdings in Kinross Gold by 7.3% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 482,806 shares of the mining company's stock valued at $13,624,000 after acquiring an additional 32,800 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Kinross Gold by 23.9% in the fourth quarter. Benjamin Edwards Inc. now owns 13,050 shares of the mining company's stock valued at $367,000 after acquiring an additional 2,517 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Analysts Set New Price Targets

KGC has been the topic of several analyst reports. TD Securities reduced their target price on Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings cut Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a report on Friday, May 1st. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, May 1st. Finally, Wall Street Zen cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Price Performance

Kinross Gold stock opened at $31.52 on Friday. The stock has a market capitalization of $37.63 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 1.14 and a beta of 0.73. Kinross Gold Corporation has a 52-week low of $13.28 and a 52-week high of $39.11. The stock's 50 day moving average price is $31.80 and its two-hundred day moving average price is $30.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 EPS. On average, equities analysts predict that Kinross Gold Corporation will post 2.9 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, May 21st. Kinross Gold's dividend payout ratio is presently 6.78%.

Kinross Gold Company Profile

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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