Renaissance Technologies LLC Decreases Stake in Kinross Gold Co. (NYSE:KGC)

Renaissance Technologies LLC lowered its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 28,860,530 shares of the mining company’s stock after selling 12,200 shares during the period. Renaissance Technologies LLC owned 2.35% of Kinross Gold worth $240,120,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC lifted its holdings in Kinross Gold by 248.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock valued at $2,021,000 after purchasing an additional 238,219 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after acquiring an additional 497,531 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Kinross Gold in the 1st quarter worth $1,095,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Kinross Gold in the 1st quarter worth $3,199,000. Finally, Ruffer LLP increased its stake in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock worth $120,908,000 after acquiring an additional 877,104 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent analyst reports. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank increased their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Finally, BMO Capital Markets increased their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Price Performance

Shares of KGC opened at $9.84 on Monday. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $10.10. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 0.56 and a beta of 1.23. The firm’s fifty day simple moving average is $8.92 and its 200-day simple moving average is $7.61.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. Equities analysts forecast that Kinross Gold Co. will post 0.58 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.