Axa S.A. Buys Shares of 72,583 Kinross Gold Co. (NYSE:KGC)

Axa S.A. purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 72,583 shares of the mining company’s stock, valued at approximately $604,000.

Several other hedge funds have also made changes to their positions in KGC. Van ECK Associates Corp increased its position in Kinross Gold by 9.5% in the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after buying an additional 13,099,791 shares during the period. Artemis Investment Management LLP lifted its position in Kinross Gold by 321.5% in the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock valued at $55,707,000 after purchasing an additional 5,107,120 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Kinross Gold during the 1st quarter valued at about $23,907,000. National Bank of Canada FI grew its position in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Kinross Gold by 53.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,939,895 shares of the mining company’s stock valued at $36,010,000 after purchasing an additional 2,076,920 shares during the period. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. CIBC increased their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group increased their price target on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.53 on Wednesday. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $10.10. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock has a market cap of $11.71 billion, a PE ratio of 26.47, a price-to-earnings-growth ratio of 0.53 and a beta of 1.23. The company’s 50-day moving average price is $9.04 and its two-hundred day moving average price is $7.94.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 0.6 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s payout ratio is 33.33%.

Kinross Gold Company 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.