American Century Companies Inc. Has $128.19 Million Stock Position in Kinross Gold Corporation $KGC

American Century Companies Inc. reduced its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,160,647 shares of the mining company’s stock after selling 250,139 shares during the period. American Century Companies Inc.’s holdings in Kinross Gold were worth $128,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Caitlin John LLC acquired a new position in Kinross Gold in the third quarter valued at about $26,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Kinross Gold in the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. raised its position in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $40,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. UBS Group set a $43.00 price target on shares of Kinross Gold in a report on Friday, January 30th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Desjardins assumed coverage on Kinross Gold in a report on Friday, November 28th. They set a “buy” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold Stock Performance

Shares of KGC opened at $36.93 on Monday. The stock has a market capitalization of $44.31 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.86 and a beta of 0.73. Kinross Gold Corporation has a 12 month low of $10.32 and a 12 month high of $39.11. The firm has a fifty day simple moving average of $33.00 and a 200 day simple moving average of $27.31. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 42.9% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend 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 currently 7.14%.

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.