Edmond DE Rothschild Holding S.A. Purchases Shares of 503,016 Kinross Gold Corporation $KGC

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 503,016 shares of the mining company’s stock, valued at approximately $11,866,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after acquiring an additional 148,845 shares in the last quarter. Boston Partners grew its holdings in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares during the last quarter. FIL Ltd increased its position in Kinross Gold by 4.8% during the fourth quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock worth $820,969,000 after buying an additional 1,326,833 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock valued at $779,677,000 after acquiring an additional 571,100 shares during the period. Finally, Norges Bank purchased a new stake in shares of Kinross Gold in the fourth quarter valued at about $518,656,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KGC shares. UBS Group lowered their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings cut Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Scotiabank dropped their target price on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a report on Tuesday, July 14th. Finally, Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Trading Up 10.4%

Shares of Kinross Gold stock opened at $29.93 on Thursday. The firm has a market cap of $35.50 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.73 and a beta of 0.78. Kinross Gold Corporation has a 52-week low of $18.74 and a 52-week high of $39.11. The company’s 50-day simple moving average is $24.97 and its 200-day simple moving average is $29.09. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The firm’s revenue was up 29.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Kinross Gold Corporation will post 2.63 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

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.