MQS Management LLC Reduces Holdings in Kinross Gold Co. (NYSE:KGC)

MQS Management LLC lowered its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 40.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 82,557 shares of the mining company’s stock after selling 55,897 shares during the period. MQS Management LLC’s holdings in Kinross Gold were worth $687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Campbell & CO Investment Adviser LLC lifted its stake in shares of Kinross Gold by 248.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock worth $2,021,000 after buying an additional 238,219 shares in the last quarter. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Quantbot Technologies LP purchased a new position in Kinross Gold in the 1st quarter worth approximately $1,095,000. Jupiter Asset Management Ltd. acquired a new position in shares of Kinross Gold during the 1st quarter worth approximately $3,199,000. Finally, Ruffer LLP grew its position in shares of Kinross Gold by 4.6% in the fourth quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after purchasing an additional 877,104 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Down 2.0 %

Shares of KGC opened at $9.20 on Thursday. The company’s 50-day moving average price is $8.95 and its 200 day moving average price is $7.69. Kinross Gold Co. has a 12-month low of $4.32 and a 12-month high of $10.10. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.31 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 0.55 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, sell-side analysts forecast that Kinross Gold Co. will post 0.58 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.30%. Kinross Gold’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KGC shares. Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. CIBC lifted their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Kinross Gold Company 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.