American Century Companies Inc. Lowers Holdings in Kinross Gold Corporation $KGC

Key Points

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American Century Companies Inc. cut its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 15.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,550,239 shares of the mining company's stock after selling 1,161,407 shares during the quarter. American Century Companies Inc. owned approximately 0.53% of Kinross Gold worth $82,565,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KGC. Public Employees Retirement System of Ohio grew its position in Kinross Gold by 8.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock worth $2,204,000 after acquiring an additional 18,135 shares during the last quarter. State of Wyoming grew its position in Kinross Gold by 56.5% during the 4th quarter. State of Wyoming now owns 120,777 shares of the mining company's stock worth $1,120,000 after acquiring an additional 43,595 shares during the last quarter. Hsbc Holdings PLC grew its position in Kinross Gold by 77.7% during the 4th quarter. Hsbc Holdings PLC now owns 2,230,858 shares of the mining company's stock worth $20,587,000 after acquiring an additional 975,147 shares during the last quarter. Artemis Investment Management LLP grew its position in Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after acquiring an additional 5,400,447 shares during the last quarter. Finally, Bessemer Group Inc. grew its position in Kinross Gold by 264.7% during the 1st quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company's stock worth $1,960,000 after acquiring an additional 112,800 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KGC. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. Canaccord Genuity Group raised their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Scotiabank increased their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. UBS Group began coverage on Kinross Gold in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average target price of $20.07.

Kinross Gold Stock Up 0.4%

Shares of KGC traded up $0.0740 on Friday, reaching $19.5840. The stock had a trading volume of 12,860,457 shares, compared to its average volume of 19,856,722. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.65 and a beta of 0.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a 50-day simple moving average of $16.63 and a 200-day simple moving average of $14.38. Kinross Gold Corporation has a 12-month low of $8.31 and a 12-month high of $19.81.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 EPS. Sell-side analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's payout ratio is presently 9.68%.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.