Invesco Ltd. Has $68.26 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Invesco Ltd. lowered its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,363,790 shares of the mining company’s stock after selling 429,469 shares during the period. Invesco Ltd.’s holdings in Kinross Gold were worth $68,262,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KGC. Norges Bank acquired a new stake in Kinross Gold during the fourth quarter valued at $280,697,000. Mediolanum International Funds Ltd acquired a new stake in shares of Kinross Gold during the 4th quarter valued at about $2,506,000. Truist Financial Corp grew its stake in shares of Kinross Gold by 48.2% in the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after buying an additional 98,196 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after buying an additional 828,456 shares during the last quarter. Finally, DJE Kapital AG bought a new position in Kinross Gold during the fourth quarter valued at approximately $3,723,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

KGC opened at $14.54 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $10.69. The firm has a market capitalization of $17.89 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. Kinross Gold Co. has a 12-month low of $6.20 and a 12-month high of $14.76.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, equities analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Analyst Ratings Changes

KGC has been the topic of several analyst reports. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 4th. CIBC increased their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Raymond James raised their target price on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Scotiabank upped their price target on Kinross Gold from $13.00 to $16.00 and gave the stock a “sector outperform” rating in a research note on Monday. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $13.30.

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.