PKO Investment Management Joint Stock Co Sells 56,000 Shares of Kinross Gold Corporation $KGC

PKO Investment Management Joint Stock Co lowered its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 445,006 shares of the mining company’s stock after selling 56,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Kinross Gold were worth $6,925,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of KGC. Boston Partners boosted its stake in 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 acquiring an additional 12,705,061 shares in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after buying an additional 5,400,447 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after buying an additional 3,398,687 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in shares of Kinross Gold in the first quarter worth approximately $33,877,000. Finally, Ninety One SA PTY Ltd bought a new position in shares of Kinross Gold in the first quarter worth approximately $28,898,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.1%

Shares of Kinross Gold stock opened at $23.95 on Friday. The company has a market cap of $28.97 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64. The company’s 50 day moving average is $23.07 and its 200 day moving average is $18.05. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month 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 data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm’s revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KGC. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Thursday. UBS Group upped their target price on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. TD Securities upped their target price 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. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Raymond James Financial upped their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and a consensus price target of $27.56.

About Kinross Gold

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.