Caisse de depot et placement du Quebec Takes Position in Kinross Gold Corporation $KGC

Caisse de depot et placement du Quebec acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 559,770 shares of the mining company’s stock, valued at approximately $13,249,000.

A number of other hedge funds have also bought and sold shares of KGC. U S Global Investors Inc. increased its stake in shares of Kinross Gold by 95.4% in the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock valued at $5,962,000 after acquiring an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC bought a new position in Kinross Gold during the 1st quarter worth approximately $2,263,000. TD Asset Management Inc grew its holdings in Kinross Gold by 4.7% during the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock valued at $165,814,000 after purchasing an additional 261,861 shares during the period. Man Group plc grew its holdings in Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock valued at $352,751,000 after purchasing an additional 882,373 shares during the period. Finally, Deutsche Bank AG bought a new stake in Kinross Gold in the second quarter valued at approximately $217,800,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Zacks Research cut shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. UBS Group dropped their price objective on 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 upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group decreased their target price on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. One research 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Stock Performance

Shares of KGC opened at $31.30 on Friday. The firm has a market cap of $37.13 billion, a P/E ratio of 11.86, a PEG ratio of 0.88 and a beta of 0.78. Kinross Gold Corporation has a twelve month low of $20.19 and a twelve month high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The firm’s 50 day moving average price is $25.78 and its two-hundred day moving average price is $29.13.

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

Kinross Gold Dividend Announcement

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

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.