Maryland State Retirement & Pension System Sells 154,921 Shares of Kinross Gold Co. (NYSE:KGC)

Maryland State Retirement & Pension System lessened its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 19.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 639,051 shares of the mining company’s stock after selling 154,921 shares during the period. Maryland State Retirement & Pension System owned about 0.05% of Kinross Gold worth $3,870,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of KGC. Bruce G. Allen Investments LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth about $26,000. Headlands Technologies LLC bought a new position in Kinross Gold during the 4th quarter valued at $44,000. Compagnie Lombard Odier SCmA purchased a new position in Kinross Gold during the 4th quarter worth $53,000. SCP Investment LP boosted its holdings in Kinross Gold by 59.3% during the 3rd quarter. SCP Investment LP now owns 18,800 shares of the mining company’s stock worth $86,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Pearl River Capital LLC raised its holdings in shares of Kinross Gold by 17.9% in the third quarter. Pearl River Capital LLC now owns 21,100 shares of the mining company’s stock valued at $96,000 after purchasing an additional 3,200 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on KGC. CIBC upped their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group lifted their price target on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.44.

Kinross Gold Price Performance

NYSE:KGC remained flat at $6.75 during mid-day trading on Tuesday. 8,528,485 shares of the company traded hands, compared to its average volume of 14,496,804. The firm’s 50-day moving average is $6.02 and its 200-day moving average is $5.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. The company has a market cap of $8.29 billion, a P/E ratio of 19.84, a PEG ratio of 2.04 and a beta of 1.14. Kinross Gold Co. has a 12 month low of $4.32 and a 12 month high of $6.87.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business posted $0.09 earnings per share. Kinross Gold’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that Kinross Gold Co. will post 0.4 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. Kinross Gold’s dividend payout ratio is 35.29%.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.