Banco Santander S.A. Takes $893,000 Position in Kinross Gold Corporation $KGC

Banco Santander S.A. acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,948 shares of the mining company’s stock, valued at approximately $893,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Kinross Gold in the second quarter worth approximately $389,025,000. Man Group plc raised its holdings in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares during the period. Bank of America Corp DE lifted its position in Kinross Gold by 81.2% during the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in Kinross Gold by 50.6% during the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after purchasing an additional 3,089,959 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Kinross Gold by 47.5% during the second quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after purchasing an additional 2,880,097 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 0.5%

Kinross Gold stock opened at $36.93 on Friday. Kinross Gold Corporation has a 1 year low of $10.32 and a 1 year high of $39.11. The firm’s 50 day moving average price is $33.00 and its 200-day moving average price is $27.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The stock has a market cap of $44.31 billion, a P/E ratio of 18.84, a PEG ratio of 0.38 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. Kinross Gold’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is 7.14%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Desjardins started coverage on shares of Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. Finally, UBS Group set a $43.00 target price on shares of Kinross Gold in a research note on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.81.

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.