Intech Investment Management LLC Sells 521,525 Shares of Kinross Gold Corporation $KGC

Intech Investment Management LLC reduced its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 58.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 371,791 shares of the mining company’s stock after selling 521,525 shares during the period. Intech Investment Management LLC’s holdings in Kinross Gold were worth $9,229,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of KGC. GPS Wealth Strategies Group LLC bought a new stake in shares of Kinross Gold in the third quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Kinross Gold during the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. lifted its holdings in Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after buying an additional 717 shares during the period. Hollencrest Capital Management bought a new stake in shares of Kinross Gold in the 3rd quarter valued at about $40,000. Finally, Mather Group LLC. bought a new stake in shares of Kinross Gold in the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of KGC stock opened at $36.93 on Friday. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. The company has a market cap of $44.31 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 0.38 and a beta of 0.74. The firm has a 50 day moving average of $33.00 and a 200-day moving average of $27.20. Kinross Gold Corporation has a 52 week low of $10.32 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business’s revenue was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, March 11th. Kinross Gold’s payout ratio is 7.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Kinross Gold in a research note on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a report on Wednesday, February 4th. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They set a “buy” rating for the company. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.81.

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.