Eurizon Capital SGR S.p.A. Buys Shares of 86,012 Kinross Gold Corporation $KGC

Eurizon Capital SGR S.p.A. bought a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 86,012 shares of the mining company’s stock, valued at approximately $2,449,000.

Several other large investors also recently added to or reduced their stakes in KGC. Van ECK Associates Corp grew its holdings in Kinross Gold by 7.8% in the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after buying an additional 7,825,336 shares in the last quarter. Man Group plc grew 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 valued at $261,646,000 after buying an additional 5,411,491 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Kinross Gold by 81.2% in the 2nd 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 during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $80,299,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $74,996,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

KGC opened at $28.92 on Wednesday. The stock’s 50-day moving average price is $30.67 and its 200 day moving average price is $30.88. Kinross Gold Corporation has a 12-month low of $14.71 and a 12-month high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The firm has a market cap of $34.49 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.04 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company earned $0.30 EPS. Kinross Gold’s revenue was up 60.8% on a year-over-year basis. As a group, sell-side analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio is presently 6.78%.

Analysts Set New Price Targets

Several equities analysts have recently commented on KGC shares. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Finally, TD Securities decreased their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Company Profile

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.