Groupe la Francaise Purchases 115,000 Shares of Kinross Gold Corporation $KGC

Groupe la Francaise increased its holdings in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 11.5% in the second quarter, Holdings Channel reports. The fund owned 1,115,000 shares of the mining company’s stock after purchasing an additional 115,000 shares during the quarter. Groupe la Francaise’s holdings in Kinross Gold were worth $26,411,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KGC. Ascentis Independent Advisors purchased a new stake in shares of Kinross Gold in the 1st quarter worth approximately $29,000. Virtus Advisers LLC bought a new position in Kinross Gold in the third quarter worth approximately $28,000. Continuum Advisory LLC purchased a new stake in Kinross Gold during the second quarter worth $26,000. Harvest Fund Management Co. Ltd boosted its position in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares in the last quarter. Finally, Caitlin John LLC increased its holdings in shares of Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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Kinross Gold Price Performance

NYSE:KGC opened at $30.87 on Monday. The company has a market cap of $36.57 billion, a PE ratio of 11.69, a P/E/G ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a twelve month low of $21.61 and a twelve month high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $26.38 and its two-hundred day moving average is $28.97.

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

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.04 dividend. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of analyst reports. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Scotiabank lowered their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Wall Street Zen downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group decreased their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.43.

Read Our Latest Analysis on Kinross Gold

About Kinross Gold

(Free Report)

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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