Kinross Gold Corporation $KGC Shares Sold by Ruffer LLP

Ruffer LLP lessened its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 95.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,604 shares of the mining company’s stock after selling 897,233 shares during the period. Ruffer LLP’s holdings in Kinross Gold were worth $1,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. GPS Wealth Strategies Group LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $31,000. Armstrong Advisory Group Inc. lifted its stake in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after buying an additional 717 shares during the last quarter. Hollencrest Capital Management acquired a new position in Kinross Gold during the 3rd quarter valued at about $40,000. Finally, Mather Group LLC. bought a new stake in Kinross Gold during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 0.6%

KGC opened at $38.10 on Thursday. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The company has a market cap of $45.72 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 0.44 and a beta of 0.75. The firm has a 50 day simple moving average of $29.98 and a 200 day simple moving average of $24.58.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The firm’s revenue was up 25.8% on a year-over-year basis. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is presently 9.79%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research note on Sunday, December 7th. UBS Group upped their target price on Kinross Gold from $33.00 to $37.50 and gave the company a “buy” rating in a report on Friday, January 16th. Raymond James Financial increased their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Finally, TD Securities raised their target price on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.19.

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.