Teachers Retirement System of The State of Kentucky Purchases New Holdings in Kinross Gold Corporation $KGC

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) during the first quarter, Holdings Channel reports. The firm purchased 149,760 shares of the mining company’s stock, valued at approximately $4,571,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after acquiring an additional 292 shares in the last quarter. Turning Point Benefit Group Inc. grew its holdings in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after purchasing an additional 393 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in shares of Kinross Gold by 2.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after purchasing an additional 473 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in shares of Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company’s stock worth $55,000 after purchasing an additional 483 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after purchasing an additional 521 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Kinross Gold stock opened at $23.89 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $28.34 billion, a PE ratio of 10.12, a P/E/G ratio of 0.62 and a beta of 0.78. Kinross Gold Corporation has a 12-month low of $15.10 and a 12-month high of $39.11. The business’s 50-day moving average price is $26.94 and its two-hundred day moving average price is $30.48.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, analysts expect that Kinross Gold Corporation will post 2.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio is currently 6.78%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on KGC. UBS Group cut their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. 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 report on Thursday, July 9th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Scotiabank cut their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday. Finally, Jefferies Financial Group reduced their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

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.