Mudita Advisors LLP Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Mudita Advisors LLP bought a new stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 375,000 shares of the mining company's stock, valued at approximately $3,476,000. Kinross Gold makes up about 2.0% of Mudita Advisors LLP's investment portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Norges Bank acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $280,697,000. Renaissance Technologies LLC increased its stake in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $2,506,000. Truist Financial Corp increased its stake in shares of Kinross Gold by 48.2% during the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company's stock valued at $2,800,000 after acquiring an additional 98,196 shares during the last quarter. Finally, DJE Kapital AG acquired a new position in shares of Kinross Gold in the 4th quarter valued at about $3,723,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

KGC traded down $0.05 during trading hours on Friday, hitting $13.71. 17,477,945 shares of the stock were exchanged, compared to its average volume of 18,182,448. The stock has a 50-day simple moving average of $13.39 and a 200-day simple moving average of $11.40. Kinross Gold Co. has a 12 month low of $7.20 and a 12 month high of $15.96. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the business posted $0.10 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.81 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 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KGC. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. CIBC reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday. Raymond James increased their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research report on Friday, April 4th. Finally, StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $13.90.

Kinross Gold 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.