AustralianSuper Pty Ltd Has $95.51 Million Stock Position in Kinross Gold Corporation $KGC

AustralianSuper Pty Ltd grew its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 127.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,107,913 shares of the mining company’s stock after purchasing an additional 3,419,440 shares during the quarter. AustralianSuper Pty Ltd owned about 0.50% of Kinross Gold worth $95,509,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Winmill & CO. Inc. raised its stake in Kinross Gold by 2.0% during the 2nd quarter. Winmill & CO. Inc. now owns 815,500 shares of the mining company’s stock worth $12,746,000 after buying an additional 16,000 shares during the period. Envestnet Asset Management Inc. raised its stake in Kinross Gold by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 661,549 shares of the mining company’s stock worth $10,340,000 after buying an additional 43,819 shares during the period. MQS Management LLC acquired a new stake in Kinross Gold during the 2nd quarter worth $303,000. Catalyst Capital Advisors LLC acquired a new stake in Kinross Gold during the 2nd quarter worth $233,000. Finally, R Squared Ltd raised its stake in Kinross Gold by 54.3% during the 2nd quarter. R Squared Ltd now owns 26,348 shares of the mining company’s stock worth $412,000 after buying an additional 9,268 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC opened at $23.95 on Monday. The business’s 50-day moving average price is $23.07 and its two-hundred day moving average price is $18.13. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The company has a market capitalization of $28.97 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 0.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. Equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s payout ratio is currently 9.68%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Kinross Gold in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research note on Thursday, August 7th. TD Securities raised their price objective on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Raymond James Financial increased their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Finally, Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.56.

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.