LGT Fund Management Co Ltd. Grows Position in Kinross Gold Corporation $KGC

LGT Fund Management Co Ltd. lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 28.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 194,900 shares of the mining company’s stock after acquiring an additional 43,100 shares during the period. LGT Fund Management Co Ltd.’s holdings in Kinross Gold were worth $3,045,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Capital Investment Advisors LLC increased its holdings in Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company’s stock worth $351,000 after purchasing an additional 850 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Kinross Gold by 3.0% during the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock worth $438,000 after purchasing an additional 1,013 shares during the last quarter. S.A. Mason LLC increased its holdings 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 purchasing an additional 1,250 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Kinross Gold by 12.5% during the 1st quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company’s stock worth $142,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Cigna Investments Inc. New increased its holdings in Kinross Gold by 6.4% during the 1st quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company’s stock worth $291,000 after purchasing an additional 1,386 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.3%

NYSE:KGC opened at $25.03 on Friday. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $25.78. The firm has a market capitalization of $30.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 0.80 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. The business has a 50 day simple moving average of $20.91 and a 200 day simple moving average of $16.74.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was up 41.7% compared to the same quarter last year. Equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KGC shares. Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 target price for the company in a research report on Monday, June 30th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Kinross Gold in a research report on Saturday, September 27th. Canaccord Genuity Group lifted their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and an average target price of $21.07.

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.