Point72 Asia Singapore Pte. Ltd. Acquires New Holdings in Kinross Gold Co. (NYSE:KGC)

Point72 Asia Singapore Pte. Ltd. bought a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 3rd quarter, Holdings Channel.com reports. The fund bought 323,291 shares of the mining company’s stock, valued at approximately $3,026,000. Kinross Gold comprises approximately 0.6% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 24th biggest holding.

Other hedge funds also recently modified their holdings of the company. Cetera Advisors LLC boosted its holdings in Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after purchasing an additional 1,828 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Kinross Gold in the second quarter worth about $129,000. Fulton Bank N.A. acquired a new position in shares of Kinross Gold during the 2nd quarter valued at about $144,000. OLD National Bancorp IN bought a new position in shares of Kinross Gold in the 2nd quarter valued at approximately $95,000. Finally, Artemis Investment Management LLP lifted its holdings 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 worth $55,707,000 after purchasing an additional 5,107,120 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE:KGC opened at $9.71 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold Co. has a one year low of $4.75 and a one year high of $10.82. The company has a fifty day moving average price of $9.93 and a 200 day moving average price of $9.01. The stock has a market cap of $11.93 billion, a P/E ratio of 15.92, a PEG ratio of 0.43 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. Kinross Gold’s payout ratio is currently 19.67%.

Analyst Ratings Changes

KGC has been the topic of several analyst reports. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $11.13.

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.