Kinross Gold Corporation $KGC Stock Holdings Lowered by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 295,900 shares of the mining company’s stock after selling 64,076 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Kinross Gold were worth $4,623,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Kinross Gold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock worth $603,829,000 after purchasing an additional 561,563 shares during the last quarter. Boston Partners boosted its position in shares of Kinross Gold by 36.5% during the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock worth $632,797,000 after buying an additional 12,705,061 shares during the period. First Eagle Investment Management LLC boosted its position in shares of Kinross Gold by 0.3% during the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after buying an additional 37,942 shares during the period. Geode Capital Management LLC grew its holdings in Kinross Gold by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock worth $172,571,000 after buying an additional 1,876,764 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Kinross Gold by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company’s stock valued at $126,378,000 after acquiring an additional 603,388 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. CIBC upped their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Finally, TD Securities upped their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kinross Gold presently has a consensus rating of “Buy” and a consensus price target of $27.56.

Kinross Gold Price Performance

NYSE:KGC opened at $25.47 on Friday. The business’s 50-day moving average price is $24.20 and its 200 day moving average price is $19.14. The firm has a market cap of $30.81 billion, a P/E ratio of 20.54, a PEG ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.24 EPS. Kinross Gold’s revenue was up 25.8% on a year-over-year basis. As a group, sell-side analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.035 per share. The ex-dividend date is Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s payout ratio is 9.79%.

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.