Kinross Gold Corporation $KGC Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 27.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 662,793 shares of the mining company’s stock after selling 249,115 shares during the period. Public Employees Retirement System of Ohio owned 0.06% of Kinross Gold worth $15,663,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the third quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new position in Kinross Gold in the 1st quarter valued at $29,000. Harvest Fund Management Co. Ltd raised its holdings in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Kinross Gold in the 3rd quarter valued at $38,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Kinross Gold during the 4th quarter worth $40,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Zacks Research lowered Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. UBS Group dropped their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Trading Up 0.1%

Shares of KGC opened at $31.30 on Monday. Kinross Gold Corporation has a twelve month low of $20.19 and a twelve month high of $39.11. The firm has a market capitalization of $37.13 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $25.78 and its 200 day simple moving average is $29.09.

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

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders 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 yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s payout ratio is 6.06%.

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.