Kinross Gold Corporation $KGC Stock Position Raised by Quantitative Investment Management LLC

Key Points

• Quantitative Investment Management LLC significantly increased its holdings in Kinross Gold Corporation by 187.4%, acquiring an additional 36,565 shares in the 1st quarter, bringing their total ownership to 56,076 shares valued at approximately $707,000.
• Analysts have been positive on Kinross Gold, with several upgrades, including a price objective increase from $16.00 to $20.00, indicating a strong consensus rating of "Buy" with a target price of $20.07.
• Kinross Gold recently announced a quarterly dividend of $0.03 per share, reflecting a yield of 0.6% and a payout ratio of 9.68%.

Quantitative Investment Management LLC grew its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 187.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,076 shares of the mining company's stock after buying an additional 36,565 shares during the quarter. Quantitative Investment Management LLC's holdings in Kinross Gold were worth $707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in Kinross Gold during the first quarter worth $55,000. Farther Finance Advisors LLC raised its stake in Kinross Gold by 188.6% in the 1st 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 last quarter. Headlands Technologies LLC acquired a new position in Kinross Gold in the 1st quarter valued at about $77,000. Bruce G. Allen Investments LLC raised its stake in Kinross Gold by 68.6% in the 1st 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 last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Royal Bank Of Canada lifted their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. CIBC lifted their price objective on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Finally, UBS Group began coverage on Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Stock Up 3.5%

Shares of KGC traded up $0.71 during midday trading on Friday, reaching $20.93. 18,160,247 shares of the company were exchanged, compared to its average volume of 20,603,797. The stock has a 50-day moving average price of $17.00 and a 200-day moving average price of $14.61. The company has a market cap of $25.44 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.67 and a beta of 0.55. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $20.97. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's revenue was up 41.7% compared to the same quarter last year. Research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's dividend payout ratio is 9.68%.

About Kinross Gold

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.