Kinross Gold Corporation $KGC Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,410,786 shares of the mining company’s stock after selling 1,139,453 shares during the period. American Century Companies Inc. owned approximately 0.44% of Kinross Gold worth $84,566,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Kinross Gold by 95.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after purchasing an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Kinross Gold by 21.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after purchasing an additional 57,966 shares during the period. Sprott Inc. lifted its stake in Kinross Gold by 1.7% during the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after purchasing an additional 48,905 shares in the last quarter. Bayforest Capital Ltd lifted its stake in Kinross Gold by 30.2% during the second quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after purchasing an additional 12,821 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of Kinross Gold by 9.0% during the second quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock worth $4,730,000 after buying an additional 25,093 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 0.5%

KGC opened at $26.11 on Wednesday. The business has a fifty day moving average price of $24.52 and a 200 day moving average price of $19.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $27.84. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned $0.24 EPS. Kinross Gold’s revenue for the quarter was up 25.8% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be paid a $0.035 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, November 26th. Kinross Gold’s payout ratio is presently 9.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KGC shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. CIBC boosted their price target on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, TD Securities raised their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $27.69.

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.