Russell Investments Group Ltd. Boosts Holdings in Kinross Gold Corporation $KGC

Russell Investments Group Ltd. boosted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,113,458 shares of the mining company’s stock after acquiring an additional 87,694 shares during the period. Russell Investments Group Ltd. owned about 0.26% of Kinross Gold worth $77,287,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ballentine Partners LLC increased its stake in shares of Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock worth $799,000 after purchasing an additional 565 shares in the last quarter. Cadence Wealth Management LLC grew its holdings in Kinross Gold by 1.3% during the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after buying an additional 581 shares during the last quarter. Parallel Advisors LLC increased its position in Kinross Gold by 7.0% during the third quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock worth $224,000 after buying an additional 587 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Kinross Gold by 1.1% in the second quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock worth $877,000 after acquiring an additional 593 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Kinross Gold by 1.6% in the third quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock valued at $1,090,000 after acquiring an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of a number of analyst reports. UBS Group set a $43.00 price objective on Kinross Gold in a research note on Friday, January 30th. Scotiabank upped their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Desjardins assumed coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating on the stock. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.31.

Kinross Gold Price Performance

KGC opened at $32.83 on Wednesday. Kinross Gold Corporation has a 1 year low of $10.71 and a 1 year high of $39.11. The company’s 50 day simple moving average is $33.63 and its 200 day simple moving average is $28.02. The stock has a market capitalization of $39.39 billion, a PE ratio of 16.75, a P/E/G ratio of 1.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 earnings per share. As a group, sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current 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 issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is currently 8.16%.

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.