Boston Partners Trims Stock Position in Kinross Gold Corporation $KGC

Boston Partners trimmed its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,068,658 shares of the mining company’s stock after selling 7,051,687 shares during the quarter. Kinross Gold comprises 1.2% of Boston Partners’ portfolio, making the stock its 6th largest position. Boston Partners’ holdings in Kinross Gold were worth $1,118,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp raised its position in shares of Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock worth $2,682,791,000 after purchasing an additional 7,825,336 shares during the period. Vanguard Group Inc. increased its position in Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after acquiring an additional 148,845 shares during the period. Norges Bank acquired a new stake in Kinross Gold in the 4th quarter valued at approximately $518,656,000. Man Group plc increased its position in Kinross Gold by 47.8% in the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Kinross Gold by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company’s stock valued at $349,472,000 after acquiring an additional 2,018,572 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC opened at $25.56 on Friday. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 0.88 and a beta of 0.71. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $30.23 and a 200 day moving average price of $30.91.

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, beating analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. Analysts forecast that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $45.00 in a research report on Thursday, March 12th. Finally, UBS Group lowered their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Company 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.