QS Investors LLC Decreases Position in Kinross Gold Co. (NYSE:KGC)

QS Investors LLC cut its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 467,100 shares of the mining company’s stock after selling 8,400 shares during the period. QS Investors LLC’s holdings in Kinross Gold were worth $3,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. LPL Financial LLC raised its holdings in shares of Kinross Gold by 12.8% during the second quarter. LPL Financial LLC now owns 164,384 shares of the mining company’s stock valued at $1,044,000 after purchasing an additional 18,629 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Kinross Gold by 28.6% during the second quarter. Ensign Peak Advisors Inc now owns 54,821 shares of the mining company’s stock valued at $340,000 after purchasing an additional 12,200 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Kinross Gold by 0.7% during the second quarter. Toronto Dominion Bank now owns 5,280,890 shares of the mining company’s stock valued at $33,484,000 after purchasing an additional 35,427 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Kinross Gold by 10.6% during the second quarter. Geode Capital Management LLC now owns 2,876,815 shares of the mining company’s stock valued at $18,201,000 after purchasing an additional 274,779 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 1.0% during the second quarter. Vanguard Group Inc. now owns 38,110,957 shares of the mining company’s stock valued at $242,005,000 after purchasing an additional 376,314 shares during the last quarter. 44.95% of the stock is owned by institutional investors and hedge funds.

KGC opened at $6.01 on Thursday. The firm has a market cap of $7.57 billion, a P/E ratio of 5.89 and a beta of 0.82. Kinross Gold Co. has a 1-year low of $5.18 and a 1-year high of $9.42. The company has a 50 day simple moving average of $5.77 and a two-hundred day simple moving average of $6.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.06 and a quick ratio of 1.32.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, July 27th. The mining company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a return on equity of 15.18% and a net margin of 29.97%. Equities analysts anticipate that Kinross Gold Co. will post 0.42 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 19th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, August 18th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Several research analysts have recently weighed in on the stock. TD Securities decreased their price objective on shares of Kinross Gold from $11.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, June 23rd. BMO Capital Markets decreased their price objective on shares of Kinross Gold from $13.00 to $11.50 and set an “outperform” rating for the company in a report on Wednesday, June 23rd. Credit Suisse Group upgraded shares of Kinross Gold from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $7.50 to $8.00 in a research report on Wednesday, June 23rd. CIBC lowered shares of Kinross Gold from an “outperform” rating to a “neutral” rating and cut their target price for the company from $11.25 to $8.50 in a research report on Tuesday, June 22nd. Finally, Stifel Nicolaus cut their target price on shares of Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating for the company in a research report on Wednesday, June 23rd. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.56.

About Kinross Gold

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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