Maryland State Retirement & Pension System Sells 62,439 Shares of Kinross Gold Corporation $KGC

Maryland State Retirement & Pension System reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 14.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 372,270 shares of the mining company’s stock after selling 62,439 shares during the period. Maryland State Retirement & Pension System’s holdings in Kinross Gold were worth $11,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. Parallel Advisors LLC boosted its stake in Kinross Gold by 3.2% during the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after purchasing an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. lifted its holdings in shares of Kinross Gold by 6.6% during the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock valued at $178,000 after purchasing an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock valued at $636,000 after purchasing an additional 473 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Kinross Gold by 32.9% during the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock valued at $55,000 after buying an additional 483 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock valued at $629,000 after buying an additional 521 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $23.89 on Wednesday. The firm’s 50 day moving average price is $26.94 and its 200-day moving average price is $30.48. Kinross Gold Corporation has a twelve month low of $15.10 and a twelve month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $28.34 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.62 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Equities research analysts expect that Kinross Gold Corporation will post 2.7 EPS for the current year.

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

KGC has been the subject of a number of recent analyst reports. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group dropped their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.