Axa S.A. Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Axa S.A. purchased a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 72,583 shares of the mining company’s stock, valued at approximately $604,000.

Other large investors have also made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new position 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 worth $60,000. Sivia Capital Partners LLC purchased a new position in shares of Kinross Gold during the fourth quarter valued at $63,000. Bright Futures Wealth Management LLC. acquired a new position in Kinross Gold during the first quarter valued at $70,000. Finally, Fifth Third Bancorp lifted its stake in Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the topic of several research analyst reports. CIBC lifted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank upped 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. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Kinross Gold Stock Up 1.8 %

KGC stock opened at $9.53 on Wednesday. The firm has a market cap of $11.71 billion, a PE ratio of 26.47, a PEG ratio of 0.53 and a beta of 1.23. Kinross Gold Co. has a 1 year low of $4.32 and a 1 year high of $10.10. The company has a fifty day simple moving average of $9.04 and a 200 day simple moving average of $7.94. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

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

Kinross Gold Dividend Announcement

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