Mediolanum International Funds Ltd Decreases Stock Position in Kinross Gold Corporation $KGC

Mediolanum International Funds Ltd reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 29.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 371,824 shares of the mining company’s stock after selling 153,204 shares during the period. Mediolanum International Funds Ltd’s holdings in Kinross Gold were worth $10,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new position in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the 3rd quarter worth approximately $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the 1st quarter worth approximately $29,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 0.2%

KGC opened at $22.61 on Monday. Kinross Gold Corporation has a 1 year low of $15.29 and a 1 year high of $39.11. The firm has a 50 day moving average price of $26.47 and a 200 day moving average price of $30.35. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company has a market cap of $26.82 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the company posted $0.30 earnings per share. Kinross Gold’s revenue was up 60.8% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Corporation will post 2.65 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Jefferies Financial Group decreased their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Scotiabank lowered their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.31.

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.