Cookson Peirce & Co. Inc. Makes New Investment in Kinross Gold Corporation $KGC

Cookson Peirce & Co. Inc. acquired a new position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 51,330 shares of the mining company’s stock, valued at approximately $802,000.

A number of other institutional investors have also recently modified their holdings of the stock. Boston Partners boosted its position in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after buying an additional 12,705,061 shares during the last quarter. Artemis Investment Management LLP boosted its position in Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after purchasing an additional 5,400,447 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after purchasing an additional 3,398,687 shares during the last quarter. AustralianSuper Pty Ltd purchased a new position in Kinross Gold in the first quarter worth about $33,877,000. Finally, Ninety One SA PTY Ltd purchased a new position in shares of Kinross Gold during the 1st quarter valued at about $28,898,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KGC. UBS Group lifted their target price on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial boosted their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. TD Securities boosted their target price on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and boosted their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $25.69.

Kinross Gold Stock Up 1.9%

Shares of KGC stock opened at $23.52 on Thursday. The firm has a market capitalization of $28.51 billion, a PE ratio of 18.96, a P/E/G ratio of 0.47 and a beta of 0.64. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $27.84. The stock’s 50-day simple moving average is $22.88 and its 200-day simple moving average is $17.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. Equities analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 9.68%.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.