Kinross Gold Corporation $KGC Shares Bought by Legal & General Group Plc

Legal & General Group Plc boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 10,652,747 shares of the mining company’s stock after acquiring an additional 814,995 shares during the period. Legal & General Group Plc’s holdings in Kinross Gold were worth $300,445,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Financial Services Inc grew its position in Kinross Gold by 369.0% during the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock valued at $2,439,000 after buying an additional 68,154 shares during the period. Catalyst Funds Management Pty Ltd acquired a new stake in Kinross Gold during the fourth quarter valued at $228,000. EverSource Wealth Advisors LLC grew its position in Kinross Gold by 36.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,842 shares of the mining company’s stock valued at $136,000 after buying an additional 1,298 shares during the period. Leonteq Securities AG acquired a new stake in Kinross Gold during the fourth quarter valued at $537,000. Finally, IFP Advisors Inc grew its position in Kinross Gold by 8,563.0% during the fourth quarter. IFP Advisors Inc now owns 434,625 shares of the mining company’s stock valued at $12,239,000 after buying an additional 429,608 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research report on Wednesday, February 4th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Securities dropped their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, UBS Group dropped their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Performance

KGC opened at $29.44 on Wednesday. The firm has a market capitalization of $35.11 billion, a PE ratio of 12.47, a PEG ratio of 1.01 and a beta of 0.73. Kinross Gold Corporation has a twelve month low of $14.35 and a twelve month high of $39.11. The firm’s 50-day moving average price is $30.69 and its 200 day moving average price is $30.75. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. As a group, sell-side analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is presently 6.78%.

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.