Entropy Technologies LP Trims Stock Position in Kinross Gold Corporation $KGC

Entropy Technologies LP reduced its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 36.5% during the fourth quarter, Holdings Channel reports. The firm owned 142,694 shares of the mining company’s stock after selling 82,138 shares during the quarter. Entropy Technologies LP’s holdings in Kinross Gold were worth $4,018,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in Kinross Gold during the 3rd quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the 4th quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold in the 4th quarter worth about $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $28,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of 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 worth $32,000 after buying an additional 589 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the topic of a number of recent research reports. TD Securities reduced their target price on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. UBS Group reduced their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Finally, Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Stock Performance

Shares of KGC stock opened at $25.56 on Monday. Kinross Gold Corporation has a one year low of $14.71 and a one year high of $39.11. The company’s 50-day moving average is $30.23 and its 200 day moving average is $30.94. The company has a market capitalization of $30.48 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm posted $0.30 EPS. Kinross Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. Sell-side analysts expect that Kinross Gold Corporation will post 2.91 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed 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. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

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.