Kinross Gold Corporation $KGC Stake Reduced by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 61.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 471,930 shares of the mining company’s stock after selling 757,170 shares during the period. Intact Investment Management Inc.’s holdings in Kinross Gold were worth $11,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in KGC. Norges Bank bought a new stake in shares of Kinross Gold in the 2nd quarter worth approximately $389,025,000. Man Group plc grew its position in Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after buying an additional 5,411,491 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Kinross Gold by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock valued at $184,827,000 after buying an additional 37,942 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kinross Gold by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after acquiring an additional 1,876,764 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Kinross Gold by 47.5% during the 2nd quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock valued at $139,848,000 after acquiring an additional 2,880,097 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 1.5%

NYSE:KGC opened at $37.18 on Monday. The business’s fifty day moving average price is $29.22 and its 200 day moving average price is $24.17. The firm has a market capitalization of $44.61 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 0.43 and a beta of 0.75. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 1-year low of $10.32 and a 1-year high of $37.60.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $0.24 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were issued a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio is 9.79%.

Analyst Ratings Changes

A number of brokerages recently issued reports on KGC. Jefferies Financial Group restated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Desjardins assumed coverage on Kinross Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. UBS Group upped their price objective on shares of Kinross Gold from $33.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Finally, Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price of $30.56.

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.