Quantinno Capital Management LP Raises Stock Holdings in Kinross Gold Corporation $KGC

Quantinno Capital Management LP lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,491 shares of the mining company’s stock after acquiring an additional 24,125 shares during the period. Quantinno Capital Management LP’s holdings in Kinross Gold were worth $4,288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KGC. Vanguard Group Inc. lifted its holdings in Kinross Gold by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company’s stock valued at $1,433,345,000 after purchasing an additional 148,845 shares in the last quarter. Boston Partners grew its holdings in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company’s stock worth $1,133,463,000 after buying an additional 707,498 shares in the last quarter. FIL Ltd raised its position in shares of Kinross Gold by 4.8% in the fourth quarter. FIL Ltd now owns 29,146,959 shares of the mining company’s stock valued at $820,969,000 after buying an additional 1,326,833 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Kinross Gold by 2.3% in the first quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company’s stock valued at $779,677,000 after buying an additional 571,100 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Kinross Gold during the fourth quarter valued at approximately $518,656,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KGC. Royal Bank Of Canada decreased their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. UBS Group reduced their price target on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Jefferies Financial Group decreased their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, July 6th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.43.

Kinross Gold Trading Up 7.8%

NYSE KGC opened at $27.61 on Friday. The firm has a market capitalization of $32.75 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.69 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a one year low of $18.44 and a one year high of $39.11. The company’s 50 day moving average price is $24.86 and its 200 day moving average price is $29.65.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company’s revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts predict that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio is currently 6.06%.

Kinross Gold Company 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.