Kinross Gold Corporation $KGC Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. cut its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 47.1% in the third quarter, Holdings Channel reports. The firm owned 187,900 shares of the mining company’s stock after selling 167,083 shares during the period. Triasima Portfolio Management inc.’s holdings in Kinross Gold were worth $4,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Kinross Gold by 2.3% during the 1st 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. Man Group plc bought a new stake in shares of Kinross Gold in the 2nd quarter valued at approximately $298,152,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Kinross Gold in the second quarter worth approximately $264,652,000. Bank of America Corp DE increased its holdings in Kinross Gold by 11.4% in the second quarter. Bank of America Corp DE now owns 10,822,887 shares of the mining company’s stock worth $255,637,000 after buying an additional 1,106,837 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Kinross Gold in the second quarter worth approximately $244,762,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

NYSE KGC opened at $23.82 on Friday. Kinross Gold Corporation has a fifty-two week low of $21.90 and a fifty-two week high of $39.11. The stock’s 50-day moving average is $27.66 and its two-hundred day moving average is $27.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The firm has a market cap of $28.22 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.73 and a beta of 0.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, analysts anticipate that Kinross Gold Corporation will post 2.43 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

KGC has been the topic of several recent research reports. Zacks Research raised shares of Kinross Gold from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. UBS Group reduced their target price on shares of Kinross Gold from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Weiss Ratings raised shares of Kinross Gold from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. TD dropped their price target on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Finally, TD Securities dropped their price target on shares of Kinross Gold from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $38.89.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. The company explores for, develops, and operates gold mines, with silver produced as a byproduct at certain properties. Its activities include mineral exploration, mine development, ore processing, and the sale of refined gold and other metals.

Kinross has historically operated mines across the Americas and West Africa. Its portfolio has included the Fort Knox, Round Mountain, and Bald Mountain mines in the United States; Paracatu in Brazil; Tasiast in Mauritania; and La Coipa in Chile.