Kinross Gold Corporation $KGC Stock Position Lowered by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 47.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,900 shares of the mining company’s stock after selling 167,083 shares during the period. Triasima Portfolio Management inc.’s holdings in Kinross Gold were worth $4,540,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock worth $779,677,000 after purchasing an additional 571,100 shares during the period. Man Group plc purchased a new position in Kinross Gold during the 2nd quarter worth approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kinross Gold during the 2nd quarter worth approximately $264,652,000. Bank of America Corp DE raised its stake in Kinross Gold by 11.4% during the 2nd quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company’s stock valued at $255,637,000 after purchasing an additional 1,106,837 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Kinross Gold during the 2nd quarter valued at $244,762,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of KGC opened at $23.82 on Friday. The company’s 50 day moving average price is $27.66 and its 200 day moving average price is $27.71. Kinross Gold Corporation has a 52 week low of $21.90 and a 52 week high of $39.11. The company has a market capitalization of $28.22 billion, a PE ratio of 9.02, a PEG ratio of 0.73 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. Research analysts expect that Kinross Gold Corporation will post 2.43 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 20th. Kinross Gold’s payout ratio is currently 6.06%.

Analyst Ratings Changes

KGC has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Kinross Gold from $52.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Scotia lowered their price target on Kinross Gold from $41.00 to $39.00 and set a “sector outperform” rating on the stock in a report on Thursday, September 24th. Citigroup reissued a “buy” rating on shares of Kinross Gold in a research report on Monday, September 28th. Weiss Ratings raised Kinross Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Royal Bank Of Canada reduced their price objective on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.89.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.