American Century Companies Inc. Sells 250,139 Shares of 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 the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,160,647 shares of the mining company’s stock after selling 250,139 shares during the period. American Century Companies Inc. owned approximately 0.43% of Kinross Gold worth $128,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Caitlin John LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at $26,000. GPS Wealth Strategies Group LLC bought a new position in shares of Kinross Gold during the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at $31,000. Armstrong Advisory Group Inc. grew its holdings 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 worth $36,000 after purchasing an additional 717 shares during the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of Kinross Gold in the 3rd quarter worth about $40,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 0.5%

KGC stock opened at $36.93 on Monday. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $10.32 and a twelve month high of $39.11. The company has a market cap of $44.31 billion, a P/E ratio of 18.84, a PEG ratio of 1.86 and a beta of 0.73. The business has a fifty day moving average of $33.00 and a 200-day moving average of $27.31.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The firm had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company’s revenue was up 42.9% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. As a group, equities research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change 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 presently 7.14%.

Wall Street Analysts Forecast Growth

KGC has been the subject of several analyst reports. UBS Group set a $43.00 price target on shares of Kinross Gold in a report on Friday, January 30th. Scotiabank lifted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Jefferies Financial Group reissued a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Desjardins started coverage on Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Finally, Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold 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.