Artemis Investment Management LLP Grows Position in Kinross Gold Co. (NYSE:KGC)

Artemis Investment Management LLP raised its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 28.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,567,435 shares of the mining company’s stock after buying an additional 1,871,939 shares during the quarter. Kinross Gold makes up approximately 1.2% of Artemis Investment Management LLP’s investment portfolio, making the stock its 23rd largest position. Artemis Investment Management LLP owned about 0.70% of Kinross Gold worth $80,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in Kinross Gold during the 2nd quarter worth approximately $40,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at $60,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the fourth quarter valued at $63,000. Bright Futures Wealth Management LLC. acquired a new position in Kinross Gold during the 1st quarter worth $70,000. Finally, Fifth Third Bancorp increased its holdings in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. CIBC lifted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Stock Performance

NYSE KGC opened at $9.43 on Wednesday. The company has a fifty day moving average of $9.11 and a two-hundred day moving average of $8.07. The company has a market capitalization of $11.59 billion, a PE ratio of 26.19, a P/E/G ratio of 0.52 and a beta of 1.24. Kinross Gold Co. has a 1 year low of $4.67 and a 1 year high of $10.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue was up 11.6% on a year-over-year basis. As a group, analysts expect that Kinross Gold Co. will post 0.61 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.27%. Kinross Gold’s payout ratio is 33.33%.

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.