Kinross Gold Corporation $KGC Stock Holdings Cut by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lessened its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,930,599 shares of the mining company’s stock after selling 267,273 shares during the quarter. Kinross Gold makes up approximately 1.2% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 16th largest position. AustralianSuper Pty Ltd’s holdings in Kinross Gold were worth $251,549,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Caitlin John LLC bought a new position in Kinross Gold during the third quarter valued at about $26,000. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the fourth quarter worth about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold in the fourth quarter worth about $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in Kinross Gold during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.2%

Shares of Kinross Gold stock opened at $30.91 on Friday. Kinross Gold Corporation has a 52-week low of $13.34 and a 52-week high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm has a market capitalization of $36.86 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73. The company’s fifty day moving average price is $31.34 and its two-hundred day moving average price is $30.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, analysts expect that Kinross Gold Corporation will post 2.9 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TD Securities dropped their price target on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a report on Wednesday, February 4th. Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.