Kinross Gold Corporation (NYSE:KGC) Shares Bought by Artemis Investment Management LLP

Artemis Investment Management LLP lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 365.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,876,921 shares of the mining company’s stock after purchasing an additional 5,400,447 shares during the quarter. Kinross Gold comprises about 1.3% of Artemis Investment Management LLP’s holdings, making the stock its 14th biggest holding. Artemis Investment Management LLP owned about 0.56% of Kinross Gold worth $86,718,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sequoia Financial Advisors LLC raised its holdings in shares of Kinross Gold by 10.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 37,056 shares of the mining company’s stock valued at $467,000 after purchasing an additional 3,373 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Kinross Gold by 264.7% in the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company’s stock valued at $1,960,000 after buying an additional 112,800 shares during the last quarter. S.A. Mason LLC raised its position in Kinross Gold by 6.0% during the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company’s stock worth $281,000 after buying an additional 1,250 shares during the last quarter. Strategic Investment Advisors MI acquired a new position in Kinross Gold during the first quarter worth about $239,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Kinross Gold in the 1st quarter worth about $147,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $15.84 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The firm has a market capitalization of $19.43 billion, a PE ratio of 16.16, a P/E/G ratio of 0.63 and a beta of 0.63. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.04. The business’s fifty day moving average price is $14.86 and its two-hundred day moving average price is $12.48.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. Kinross Gold’s dividend payout ratio is presently 12.24%.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of research analyst reports. Scotiabank lifted their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a report on Thursday, May 8th. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $18.00 in a research report on Thursday. CIBC restated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, May 13th. Raymond James Financial upped their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. Finally, National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $17.00.

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.