Prudential Financial Inc. Increases Stock Position in Kinross Gold Corporation $KGC

Prudential Financial Inc. increased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) (TSE:K) by 45.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission.

Prudential Financial Inc. increased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 45.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 272,730 shares of the mining company's stock after buying an additional 85,125 shares during the quarter. Prudential Financial Inc.'s holdings in Kinross Gold were worth $4,254,000 as of its most recent filing with the Securities and Exchange Commission.

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A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KGC. Goldman Sachs Group Inc. lifted its stake in shares of Kinross Gold by 95.7% during 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 in the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Kinross Gold by 21.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company's stock valued at $4,076,000 after buying an additional 57,966 shares during the period. Sprott Inc. lifted its position in Kinross Gold by 1.7% during the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company's stock worth $36,976,000 after acquiring an additional 48,905 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in Kinross Gold by 30.2% in the 2nd quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company's stock worth $863,000 after acquiring an additional 12,821 shares during the period. Finally, Truist Financial Corp grew its position in Kinross Gold by 9.0% in the second quarter. Truist Financial Corp now owns 302,645 shares of the mining company's stock valued at $4,730,000 after acquiring an additional 25,093 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of KGC opened at $28.33 on Tuesday. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $28.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The stock has a fifty day moving average price of $24.90 and a 200 day moving average price of $20.08. The company has a market cap of $34.20 billion, a P/E ratio of 22.85, a PEG ratio of 0.42 and a beta of 0.60.

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Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company's revenue for the quarter was up 25.8% compared to the same quarter last year. On average, research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be paid a $0.035 dividend. The ex-dividend date is Wednesday, November 26th. This is an increase from Kinross Gold's previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is 9.79%.

Wall Street Analysts Forecast Growth

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A number of equities analysts have weighed in on the stock. Raymond James Financial upped their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 10th. Scotiabank reissued an "outperform" rating on shares of Kinross Gold in a report on Thursday, October 23rd. Weiss Ratings restated a "buy (a)" rating on shares of Kinross Gold in a report on Friday, October 31st. Wall Street Zen lowered Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Finally, Desjardins began coverage on Kinross Gold in a research note on Friday. They set a "buy" rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Kinross Gold has a consensus rating of "Buy" and a consensus target price of $27.94.

Get Our Latest Stock Report on Kinross Gold

Kinross Gold Company Profile

(Free Report)

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.

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