Dimensional Fund Advisors LP Has $126.38 Million Stock Position in Kinross Gold Corporation $KGC

Key Points

• Dimensional Fund Advisors LP increased its stake in Kinross Gold Corporation by 6.4%, acquiring an additional 603,388 shares, bringing its total ownership to approximately 10 million shares worth $126.4 million.
• Several analysts have raised their price targets for Kinross Gold, with Jefferies Financial Group establishing a new target of $18.00 and UBS Group setting a target of $20.00.
• Kinross Gold recently declared a quarterly dividend of $0.03 per share, ahead of its scheduled payment date of September 4th, representing an annualized yield of 0.6%.

Dimensional Fund Advisors LP boosted its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 6.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,022,770 shares of the mining company's stock after acquiring an additional 603,388 shares during the quarter. Dimensional Fund Advisors LP owned 0.81% of Kinross Gold worth $126,378,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of KGC. Raymond James Financial Inc. acquired a new stake in Kinross Gold during the 4th quarter worth about $6,842,000. Townsquare Capital LLC boosted its position in Kinross Gold by 50.9% during the 4th quarter. Townsquare Capital LLC now owns 17,601 shares of the mining company's stock worth $163,000 after acquiring an additional 5,936 shares during the period. Mariner LLC boosted its position in Kinross Gold by 41.3% during the 4th quarter. Mariner LLC now owns 205,711 shares of the mining company's stock worth $1,907,000 after acquiring an additional 60,095 shares during the period. State of Tennessee Department of Treasury boosted its position in Kinross Gold by 0.9% during the 4th quarter. State of Tennessee Department of Treasury now owns 709,729 shares of the mining company's stock worth $6,588,000 after acquiring an additional 6,092 shares during the period. Finally, Hsbc Holdings PLC boosted 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 period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on KGC shares. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. CIBC raised their price target on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, 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 note on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $20.07.

Kinross Gold Stock Performance

Shares of KGC stock traded down $0.01 during trading on Wednesday, reaching $20.22. The company had a trading volume of 12,182,380 shares, compared to its average volume of 18,718,982. The firm's 50 day simple moving average is $16.90 and its two-hundred day simple moving average is $14.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $20.26. The company has a market capitalization of $24.57 billion, a PE ratio of 16.30, a PEG ratio of 0.67 and a beta of 0.55.

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

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio (DPR) is 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.