Rhumbline Advisers Has $33,000 Position in Kinross Gold Co. (NYSE:KGC)

Rhumbline Advisers cut its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 42.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,918 shares of the mining company’s stock after selling 2,944 shares during the period. Rhumbline Advisers’ holdings in Kinross Gold were worth $33,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Atlas Capital Advisors LLC acquired a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $40,000. Advisor Resource Council acquired a new position in shares of Kinross Gold during the 1st quarter worth $60,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the 4th quarter worth $63,000. Bright Futures Wealth Management LLC. acquired a new stake in Kinross Gold in the first quarter valued at about $70,000. Finally, Fifth Third Bancorp grew its position in Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $9.53 on Wednesday. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 0.53 and a beta of 1.23. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $10.10. The stock has a fifty day simple moving average of $9.04 and a 200 day simple moving average of $7.94.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. Sell-side analysts expect that Kinross Gold Co. will post 0.6 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group increased their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Scotiabank raised their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC upped their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.33.

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.