Quadrature Capital Ltd Invests $80.30 Million in Kinross Gold Corporation $KGC

Quadrature Capital Ltd purchased a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 3,232,200 shares of the mining company’s stock, valued at approximately $80,299,000. Kinross Gold comprises approximately 0.9% of Quadrature Capital Ltd’s portfolio, making the stock its 27th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KGC. Ballentine Partners LLC grew its stake in Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company’s stock valued at $799,000 after purchasing an additional 565 shares in the last quarter. Cadence Wealth Management LLC raised its position in shares of Kinross Gold by 1.3% in the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company’s stock valued at $1,149,000 after purchasing an additional 581 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Kinross Gold by 7.0% during the 3rd quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company’s stock valued at $224,000 after buying an additional 587 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Kinross Gold by 1.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock valued at $877,000 after buying an additional 593 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Kinross Gold by 1.6% during the third quarter. Signaturefd LLC now owns 43,872 shares of the mining company’s stock worth $1,090,000 after buying an additional 680 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC stock opened at $32.54 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $39.04 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.59 and a beta of 0.73. Kinross Gold Corporation has a 12-month low of $11.12 and a 12-month high of $39.11. The stock’s 50 day simple moving average is $33.80 and its 200 day simple moving average is $28.09.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm’s revenue was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. As a group, equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be given a $0.04 dividend. 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 an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is 8.16%.

Wall Street Analyst Weigh In

KGC has been the subject of a number of research analyst reports. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a report on Friday, January 30th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 2nd. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

About Kinross Gold

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.