Intech Investment Management LLC Has $9.05 Million Position in Kinross Gold Corporation $KGC

Intech Investment Management LLC cut its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,891 shares of the mining company’s stock after selling 50,900 shares during the quarter. Intech Investment Management LLC’s holdings in Kinross Gold were worth $9,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Thoroughbred Financial Services LLC lifted its holdings in Kinross Gold by 7.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 19,126 shares of the mining company’s stock worth $538,000 after buying an additional 1,260 shares during the period. IPG Investment Advisors LLC lifted its holdings in Kinross Gold by 5.1% during the 4th quarter. IPG Investment Advisors LLC now owns 18,532 shares of the mining company’s stock worth $522,000 after buying an additional 907 shares during the period. Arista Wealth Management LLC acquired a new position in Kinross Gold during the 4th quarter worth about $282,000. Geode Capital Management LLC lifted its holdings in Kinross Gold by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 12,987,140 shares of the mining company’s stock worth $383,694,000 after buying an additional 701,650 shares during the period. Finally, Themes Management Co LLC acquired a new position in Kinross Gold during the 4th quarter worth about $1,285,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on KGC shares. TD Securities cut their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a research report on Wednesday, February 4th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Performance

KGC stock opened at $30.23 on Friday. The stock has a 50-day moving average price of $30.63 and a 200-day moving average price of $30.81. Kinross Gold Corporation has a 1-year low of $14.49 and a 1-year high of $39.11. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The firm has a market cap of $36.05 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.05 and a beta of 0.73.

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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 60.8% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

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

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.