Dimensional Fund Advisors LP Cuts Holdings in Kinross Gold Corporation $KGC

Key Points

• Dimensional Fund Advisors reduced its Kinross Gold stake by 8.0% in Q1, selling 574,780 shares and leaving it with 6.61 million shares worth about $201.7 million.
• Analyst sentiment remains mostly positive, with Kinross holding a “Moderate Buy” consensus and an average price target of $37.31, though several firms trimmed their targets and one downgraded the stock to “strong sell.”
• Kinross reported solid quarterly results, beating EPS expectations with $0.71 per share and delivering 60.8% revenue growth year over year, while also paying a quarterly dividend of $0.04 per share.

Dimensional Fund Advisors LP decreased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 8.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,611,629 shares of the mining company's stock after selling 574,780 shares during the quarter. Dimensional Fund Advisors LP owned 0.55% of Kinross Gold worth $201,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of KGC. V Square Quantitative Management LLC bought a new stake in Kinross Gold in the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of Kinross Gold in the fourth quarter worth $26,000. Ascentis Independent Advisors purchased a new stake in Kinross Gold during the first quarter valued at $29,000. Virtus Advisers LLC purchased a new stake in Kinross Gold during the third quarter valued at $28,000. Finally, Elevated Capital Advisors LLC bought a new position in Kinross Gold in the fourth quarter valued at about $36,000. Institutional investors own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada cut their price target on Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Jefferies Financial Group dropped their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Scotiabank cut their target price on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. Wall Street Zen cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Finally, Zacks Research downgraded shares of Kinross Gold from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.31.

Kinross Gold Stock Up 0.8%

Shares of KGC opened at $23.86 on Friday. The business's 50 day moving average is $25.74 and its 200 day moving average is $30.17. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $15.37 and a 12-month high of $39.11. The company has a market capitalization of $28.30 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter last year, the business posted $0.30 earnings per share. The company's revenue for the quarter was up 60.8% compared to the same quarter last year. Research analysts expect that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is presently 6.78%.

About Kinross Gold

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.

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