Susquehanna Fundamental Investments LLC Buys 369,500 Shares of Kinross Gold Corporation $KGC

Susquehanna Fundamental Investments LLC increased its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 275.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,600 shares of the mining company’s stock after buying an additional 369,500 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Kinross Gold were worth $11,895,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KGC. Norges Bank acquired a new position in Kinross Gold in the 4th quarter valued at $518,656,000. Man Group plc bought a new position in shares of Kinross Gold in the second quarter worth $298,152,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Kinross Gold in the second quarter worth $264,652,000. Legal & General Group Plc acquired a new position in Kinross Gold in the second quarter valued at about $244,762,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Kinross Gold in the second quarter valued at about $222,974,000. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on KGC. UBS Group reduced their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Scotiabank reduced their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group lowered their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Stock Performance

NYSE:KGC opened at $31.30 on Monday. Kinross Gold Corporation has a twelve month low of $20.19 and a twelve month high of $39.11. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $25.78 and its 200 day simple moving average is $29.09. The firm has a market capitalization of $37.13 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, analysts anticipate that Kinross Gold Corporation will post 2.61 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

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

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.