Intech Investment Management LLC Buys 80,844 Shares of Kinross Gold Corporation $KGC

Key Points

• Intech Investment Management LLC increased its stake in Kinross Gold Corporation by 12.7%, owning approximately 719,604 shares valued at $9.06 million as of the latest filing.
• Several analysts have rated Kinross Gold with a consensus "Moderate Buy" and set an average price target of $20.07 following positive earnings results that surpassed consensus estimates.
• Kinross Gold recently announced a $0.03 quarterly dividend, representing an annual yield of 0.5% and a modest payout ratio of 9.68%.

Intech Investment Management LLC raised its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 719,604 shares of the mining company's stock after acquiring an additional 80,844 shares during the period. Intech Investment Management LLC owned about 0.06% of Kinross Gold worth $9,065,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 1.2% during the first quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock worth $603,829,000 after purchasing an additional 561,563 shares in the last quarter. Boston Partners raised its holdings in shares of Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Mackenzie Financial Corp increased its stake in Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock worth $129,435,000 after purchasing an additional 2,438,445 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Kinross Gold by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company's stock valued at $126,378,000 after buying an additional 603,388 shares during the period. Finally, Man Group plc lifted its holdings in shares of Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after purchasing an additional 5,871,904 shares during the period. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Down 1.3%

KGC traded down $0.31 during trading on Tuesday, hitting $22.96. The company had a trading volume of 4,908,258 shares, compared to its average volume of 20,336,729. The firm's 50-day moving average price is $18.59 and its 200 day moving average price is $15.57. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $23.65. The company has a market capitalization of $27.90 billion, a PE ratio of 18.47, a PEG ratio of 0.77 and a beta of 0.61.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio is currently 9.68%.

Analyst Ratings Changes

KGC has been the topic of a number of recent research reports. Canaccord Genuity Group boosted their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. CIBC raised their price target on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, Royal Bank Of Canada upped their target price on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

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.