Kinross Gold Corporation $KGC Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 140,491 shares of the mining company’s stock after buying an additional 24,125 shares during the period. Quantinno Capital Management LP’s holdings in Kinross Gold were worth $4,288,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kinross Gold during the fourth quarter valued at about $518,656,000. AQR Capital Management LLC lifted its stake in shares of Kinross Gold by 4,443.4% in the fourth quarter. AQR Capital Management LLC now owns 6,738,699 shares of the mining company’s stock worth $189,808,000 after acquiring an additional 6,590,380 shares in the last quarter. Man Group plc lifted its stake in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Bank of America Corp DE boosted its holdings in Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in Kinross Gold in the third quarter valued at about $74,996,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 7.8%

Shares of NYSE KGC opened at $27.61 on Friday. The company has a market cap of $32.75 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.69 and a beta of 0.78. Kinross Gold Corporation has a 12-month low of $18.44 and a 12-month high of $39.11. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $29.65.

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

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on KGC. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 28th. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Jefferies Financial Group dropped their price target on shares of Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, UBS Group cut their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.43.

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.