Qtron Investments LLC lowered its position in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,538 shares of the mining company’s stock after selling 36,537 shares during the quarter. Qtron Investments LLC’s holdings in Kinross Gold were worth $2,469,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after acquiring an additional 7,825,336 shares during the last quarter. Vanguard Group Inc. increased its position in Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock worth $1,433,345,000 after purchasing an additional 148,845 shares in the last quarter. Boston Partners increased its position in Kinross Gold by 1.6% during the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after purchasing an additional 707,498 shares in the last quarter. Norges Bank purchased a new stake in Kinross Gold during the 4th quarter worth about $518,656,000. Finally, Man Group plc increased its position in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.
Kinross Gold Trading Up 4.9%
NYSE KGC opened at $24.82 on Friday. The company has a market cap of $29.60 billion, a P/E ratio of 10.52, a P/E/G ratio of 0.84 and a beta of 0.71. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The company has a 50-day moving average of $30.35 and a 200-day moving average of $30.95.
Kinross Gold Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio is 6.78%.
Analysts Set New Price Targets
A number of research firms recently commented on KGC. TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. Finally, UBS Group dropped their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.
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.
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