Dimensional Fund Advisors LP Cuts Stock Position in Kinross Gold Corporation $KGC

Dimensional Fund Advisors LP decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.0% during the first quarter, Holdings Channel.com reports. The firm owned 6,611,629 shares of the mining company’s stock after selling 574,780 shares during the period. Dimensional Fund Advisors LP’s holdings in Kinross Gold were worth $201,689,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Kinross Gold in the 4th quarter valued at about $26,000. Financial Management Professionals Inc. bought a new stake in Kinross Gold during the fourth quarter worth approximately $26,000. Ascentis Independent Advisors bought a new stake in Kinross Gold during the first quarter worth approximately $29,000. Virtus Advisers LLC purchased a new stake in Kinross Gold during the third quarter valued at approximately $28,000. Finally, Elevated Capital Advisors LLC purchased a new stake in Kinross Gold during the fourth quarter valued at approximately $36,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KGC shares. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Scotiabank dropped their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.31.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $23.86 on Friday. The firm’s 50 day simple moving average is $25.74 and its 200-day simple moving average is $30.17. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $15.37 and a one year high of $39.11. The firm has a market cap of $28.30 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate 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 return on equity of 32.47% and a net margin of 35.99%.Kinross Gold’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. As a group, equities analysts predict that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Announces Dividend

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

Kinross Gold Company 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.