Intech Investment Management LLC Has $9.07 Million Stake in 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 shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,604 shares of the mining company's stock after acquiring an additional 80,844 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of Kinross Gold worth $9,065,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in KGC. Northern Trust Corp grew its stake in shares of Kinross Gold by 80.5% in the 4th quarter. Northern Trust Corp now owns 1,185,021 shares of the mining company's stock valued at $10,985,000 after buying an additional 528,339 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Kinross Gold by 4.5% in the 4th quarter. Bank of America Corp DE now owns 3,884,088 shares of the mining company's stock valued at $36,005,000 after buying an additional 168,169 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Kinross Gold by 13.0% in the 4th quarter. Cetera Investment Advisers now owns 79,680 shares of the mining company's stock valued at $739,000 after buying an additional 9,194 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Kinross Gold by 21.6% in the 4th quarter. Focus Partners Wealth now owns 20,494 shares of the mining company's stock valued at $190,000 after buying an additional 3,638 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in shares of Kinross Gold by 56.9% in the 4th quarter. Gotham Asset Management LLC now owns 597,324 shares of the mining company's stock valued at $5,537,000 after buying an additional 216,710 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of KGC stock traded up $0.03 during trading hours on Friday, reaching $23.29. 11,872,373 shares of the company's stock were exchanged, compared to its average volume of 15,907,563. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $23.65. The stock has a market capitalization of $28.30 billion, a P/E ratio of 18.78, a P/E/G ratio of 0.77 and a beta of 0.62. The business has a fifty day moving average price of $18.44 and a 200-day moving average price of $15.45. 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 (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping 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 company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The company's quarterly revenue was up 41.7% compared to the same quarter last year. Analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. CIBC upped their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada upped their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Canaccord Genuity Group upped their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

Kinross Gold Company Profile

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.