Themes Management Co LLC Takes Position in Kinross Gold Corporation $KGC

Key Points

• Themes Management Co LLC disclosed a new fourth-quarter stake in Kinross Gold, buying 45,624 shares valued at about $1.285 million. The position represents 1.0% of the fund’s portfolio and is its 29th largest holding.
• Kinross Gold continues to draw strong institutional interest, with several large investors increasing their stakes; overall, 63.69% of the stock is owned by institutions.
• Analysts are broadly positive on KGC, with a consensus rating of Moderate Buy and a consensus price target of $38.81. The company also beat quarterly EPS estimates and declared a quarterly dividend of $0.04 per share.

Themes Management Co LLC acquired a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 45,624 shares of the mining company's stock, valued at approximately $1,285,000. Kinross Gold comprises 1.0% of Themes Management Co LLC's investment portfolio, making the stock its 29th largest holding.

A number of other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company's stock worth $2,682,791,000 after acquiring an additional 7,825,336 shares in the last quarter. Man Group plc boosted its stake in shares of Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock worth $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company's stock worth $126,191,000 after acquiring an additional 3,617,320 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Kinross Gold during the 3rd quarter worth about $80,299,000. Finally, AustralianSuper Pty Ltd boosted its stake in shares of Kinross Gold by 50.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company's stock worth $228,227,000 after acquiring an additional 3,089,959 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on KGC. Scotiabank upped their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. UBS Group decreased their price target on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada upgraded Kinross Gold from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. TD Securities decreased their price target on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Finally, Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $28.27 on Tuesday. The business has a 50 day moving average price of $30.71 and a 200 day moving average price of $30.71. Kinross Gold Corporation has a twelve month low of $14.35 and a twelve month high of $39.11. The company has a market cap of $33.71 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.01 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company posted $0.30 earnings per share. Kinross Gold's quarterly revenue was up 60.8% on a year-over-year basis. Research analysts predict that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

The business 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 $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio is 6.78%.

About Kinross Gold

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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