AustralianSuper Pty Ltd Purchases 3,089,959 Shares of Kinross Gold Corporation $KGC

AustralianSuper Pty Ltd increased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 50.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,197,872 shares of the mining company’s stock after purchasing an additional 3,089,959 shares during the period. Kinross Gold accounts for 1.0% of AustralianSuper Pty Ltd’s portfolio, making the stock its 20th biggest position. AustralianSuper Pty Ltd’s holdings in Kinross Gold were worth $228,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Kinross Gold during the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. lifted its position in Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the period. Mather Group LLC. purchased a new position in Kinross Gold during the 3rd quarter valued at about $44,000. Transce3nd LLC boosted its stake in Kinross Gold by 128.2% during the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after acquiring an additional 1,637 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in Kinross Gold in the third quarter worth about $56,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.6%

KGC stock opened at $38.10 on Thursday. The stock has a market capitalization of $45.72 billion, a P/E ratio of 26.64, a P/E/G ratio of 0.44 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. Kinross Gold Corporation has a 1-year low of $10.32 and a 1-year high of $39.11. The business has a fifty day moving average price of $29.98 and a 200-day moving average price of $24.58.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the company earned $0.24 EPS. Kinross Gold’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio is presently 9.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Desjardins assumed coverage on shares of Kinross Gold in a report on Friday, November 28th. They set a “buy” rating for the company. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. UBS Group boosted their target price on Kinross Gold from $33.00 to $37.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Finally, Scotiabank lifted their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $32.19.

About Kinross Gold

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.