Kinross Gold Corporation $KGC Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 192.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,647,057 shares of the mining company’s stock after buying an additional 2,398,621 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.30% of Kinross Gold worth $90,629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in shares of Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after buying an additional 102,348 shares during the period. U S Global Investors Inc. grew its holdings in Kinross Gold by 60.5% during the third quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after acquiring an additional 157,334 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Kinross Gold in the third quarter worth $1,253,000. Ninety One North America Inc. purchased a new stake in shares of Kinross Gold during the 3rd quarter worth $13,438,000. Finally, Schroder Investment Management Group grew its stake in shares of Kinross Gold by 19.6% during the 2nd quarter. Schroder Investment Management Group now owns 2,525,188 shares of the mining company’s stock worth $39,469,000 after purchasing an additional 413,771 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on KGC shares. UBS Group raised their price objective on shares of Kinross Gold from $33.00 to $37.50 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Finally, CIBC raised their price objective on Kinross Gold from $37.00 to $38.50 and gave the company an “outperform” rating in a research note on Friday. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus price target of $30.56.

Kinross Gold Stock Performance

NYSE KGC opened at $36.52 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a fifty-two week low of $10.28 and a fifty-two week high of $36.57. The business has a fifty day moving average of $28.58 and a 200-day moving average of $23.73. The stock has a market cap of $43.82 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 0.38 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, 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 declared 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. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

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.