Susquehanna Fundamental Investments LLC Has $11.89 Million Position in Kinross Gold Corporation $KGC

Key Points

• Susquehanna Fundamental Investments increased its Kinross Gold stake by 275.5% in the second quarter, holding 503,600 shares valued at approximately $11.89 million. Institutional investors own 63.69% of the company.
• Kinross reported quarterly earnings of $0.71 per share, exceeding analysts’ $0.66 estimate, while revenue rose 29.5% year over year to $2.22 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $38.43. Kinross also declared a quarterly dividend of $0.04 per share, equal to a 0.5% annual yield.

Susquehanna Fundamental Investments LLC lifted its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 275.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 503,600 shares of the mining company's stock after purchasing an additional 369,500 shares during the period. Susquehanna Fundamental Investments LLC's holdings in Kinross Gold were worth $11,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC increased its position in Kinross Gold by 3.2% during the fourth quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company's stock worth $262,000 after buying an additional 292 shares during the last quarter. Caitlin John LLC lifted its position in shares of Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock valued at $32,000 after buying an additional 400 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in shares of Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company's stock worth $636,000 after acquiring an additional 473 shares during the period. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its stake in shares of Kinross Gold by 0.4% during the 2nd quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company's stock worth $3,329,000 after acquiring an additional 500 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock worth $629,000 after acquiring an additional 521 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $31.30 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The stock's fifty day moving average price is $25.78 and its two-hundred day moving average price is $29.09. Kinross Gold Corporation has a one year low of $20.19 and a one year high of $39.11. The firm has a market cap of $37.13 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.84 and a beta of 0.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company's revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold's dividend payout ratio (DPR) is currently 6.06%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KGC shares. Weiss Ratings downgraded Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. Scotiabank dropped their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, July 31st. Finally, UBS Group decreased their price target on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold 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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