Public Employees Retirement System of Ohio Sells 14,731 Shares of Kinross Gold Corporation $KGC

Public Employees Retirement System of Ohio cut its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 217,371 shares of the mining company’s stock after selling 14,731 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kinross Gold were worth $3,393,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in KGC. Banque Cantonale Vaudoise bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $55,000. Farther Finance Advisors LLC grew its stake in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after acquiring an additional 3,659 shares during the period. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $77,000. Bruce G. Allen Investments LLC grew its stake in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after acquiring an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after acquiring an additional 1,787 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KGC has been the subject of a number of recent research reports. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. UBS Group upped their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and upped their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC upped their price target on Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. Finally, Royal Bank Of Canada upped their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $21.07.

Kinross Gold Price Performance

KGC stock opened at $24.87 on Wednesday. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $25.01. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $20.36 and a two-hundred day simple moving average of $16.50. The firm has a market capitalization of $30.15 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 0.78 and a beta of 0.62.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.14 earnings per share. Kinross Gold’s quarterly revenue was up 41.7% compared to the same quarter last year. Analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 9.68%.

Kinross Gold Profile

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.