PKO Investment Management Joint Stock Co Sells 80,000 Shares of Kinross Gold Corporation (NYSE:KGC)

PKO Investment Management Joint Stock Co trimmed its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 13.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 501,006 shares of the mining company's stock after selling 80,000 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in Kinross Gold were worth $6,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Kinross Gold in the 4th quarter worth approximately $280,697,000. Man Group plc grew its position in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after buying an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after buying an additional 5,639,383 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after buying an additional 3,224,455 shares during the last quarter. Finally, Merewether Investment Management LP bought a new stake in shares of Kinross Gold in the 4th quarter worth approximately $23,765,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 0.1%

Shares of NYSE KGC traded down $0.02 during trading on Wednesday, reaching $15.60. The company had a trading volume of 8,190,491 shares, compared to its average volume of 18,704,553. Kinross Gold Corporation has a 12-month low of $7.33 and a 12-month high of $15.96. The stock has a market cap of $19.13 billion, a PE ratio of 15.91, a P/E/G ratio of 0.66 and a beta of 0.63. The business's 50-day moving average is $14.69 and its 200 day moving average is $12.22. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The company's quarterly revenue was up 38.5% on a year-over-year basis. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KGC shares. Scotiabank lifted their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Royal Bank Of Canada lifted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Finally, BMO Capital Markets began coverage on Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and a consensus price target of $15.40.

Kinross Gold 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.