Public Employees Retirement System of Ohio Cuts Stake in Kinross Gold Corporation $KGC

Public Employees Retirement System of Ohio lessened its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 27.3% during the second quarter, HoldingsChannel reports. The firm owned 662,793 shares of the mining company’s stock after selling 249,115 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kinross Gold were worth $15,663,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of KGC. U S Global Investors Inc. lifted its position in shares of Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after purchasing an additional 95,363 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in shares of Kinross Gold in the 1st quarter valued at approximately $2,263,000. TD Asset Management Inc boosted its stake in shares of Kinross Gold by 4.7% during the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock valued at $165,814,000 after buying an additional 261,861 shares during the last quarter. Man Group plc grew its position in shares of Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after buying an additional 882,373 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Kinross Gold in the second quarter valued at $217,800,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. UBS Group decreased their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Scotiabank cut their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Trading Up 0.1%

NYSE KGC opened at $31.30 on Monday. Kinross Gold Corporation has a one year low of $20.19 and a one year high of $39.11. The company has a 50-day simple moving average of $25.78 and a 200-day simple moving average of $29.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The firm has a market capitalization of $37.13 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, equities analysts forecast that Kinross Gold Corporation will post 2.61 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio is presently 6.06%.

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.