Kinross Gold Corporation $KGC Shares Bought by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd grew its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,771,084 shares of the mining company’s stock after purchasing an additional 232,846 shares during the quarter. Kinross Gold makes up approximately 26.1% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its largest holding. Cape Ann Asset Management Ltd owned approximately 0.32% of Kinross Gold worth $115,093,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KGC. Norges Bank acquired a new stake in shares of Kinross Gold during the fourth quarter worth $518,656,000. AQR Capital Management LLC grew its stake in shares of Kinross Gold by 4,443.4% in the fourth quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock valued at $189,808,000 after acquiring an additional 6,590,380 shares in the last quarter. Man Group plc increased its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares during the period. Bank of America Corp DE raised its stake in 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 worth $126,191,000 after purchasing an additional 3,617,320 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Kinross Gold in the 3rd quarter worth about $74,996,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.8%

Shares of NYSE KGC opened at $23.86 on Friday. The company has a market capitalization of $28.30 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company’s 50 day moving average price is $25.74 and its 200-day moving average price is $30.17.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 60.8% compared to the same quarter last year. Equities analysts forecast that Kinross Gold Corporation will post 2.65 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. Kinross Gold’s payout ratio is 6.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Jefferies Financial Group reduced their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Royal Bank Of Canada cut their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.31.

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.