Intech Investment Management LLC Sells 50,900 Shares of Kinross Gold Corporation $KGC

Intech Investment Management LLC trimmed its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,891 shares of the mining company’s stock after selling 50,900 shares during the period. Intech Investment Management LLC’s holdings in Kinross Gold were worth $9,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. V Square Quantitative Management LLC acquired a new position in Kinross Gold during the 4th quarter valued at about $26,000. Financial Management Professionals Inc. acquired a new position in Kinross Gold during the 4th quarter valued at about $26,000. Caitlin John LLC acquired a new position in Kinross Gold during the 3rd quarter valued at about $26,000. Virtus Advisers LLC acquired a new position in Kinross Gold during the 3rd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold during the 3rd quarter valued at about $29,000. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 24th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. UBS Group cut their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Finally, 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 note on Thursday, March 12th. One research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $30.23 on Friday. Kinross Gold Corporation has a twelve month low of $14.49 and a twelve month high of $39.11. The stock’s 50 day moving average price is $30.63 and its 200-day moving average price is $30.81. The company has a market capitalization of $36.05 billion, a PE ratio of 12.81, a PEG ratio of 1.05 and a beta of 0.73. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company’s revenue was up 60.8% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

About Kinross Gold

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.