Kinross Gold Corporation $KGC Shares Sold by AustralianSuper Pty Ltd

Key Points

• AustralianSuper Pty Ltd reduced its Kinross Gold stake by 2.9% in the fourth quarter, selling 267,273 shares and leaving it with 8.93 million shares worth about $251.5 million.
• Kinross Gold’s stock was down 1.2% in Friday trading, opening at $30.91, while the company carried a market cap of $36.86 billion and a relatively low debt-to-equity ratio of 0.08.
• The company recently posted better-than-expected earnings of $0.71 per share and announced a quarterly dividend of $0.04 per share, with analysts maintaining a Moderate Buy rating and an average target price of $38.81.

AustralianSuper Pty Ltd trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,930,599 shares of the mining company's stock after selling 267,273 shares during the period. Kinross Gold accounts for about 1.2% of AustralianSuper Pty Ltd's holdings, making the stock its 16th biggest holding. AustralianSuper Pty Ltd owned approximately 0.74% of Kinross Gold worth $251,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in KGC. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 7.8% during the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company's stock worth $2,682,791,000 after purchasing an additional 7,825,336 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company's stock valued at $1,433,345,000 after buying an additional 148,845 shares during the period. Boston Partners raised its holdings in shares of Kinross Gold by 1.6% during the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock valued at $1,133,463,000 after buying an additional 707,498 shares during the period. Man Group plc lifted its position in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock worth $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Kinross Gold by 16.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,083,320 shares of the mining company's stock worth $349,472,000 after acquiring an additional 2,018,572 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 1.2%

Shares of KGC stock opened at $30.91 on Friday. Kinross Gold Corporation has a 1 year low of $13.34 and a 1 year high of $39.11. The firm has a market capitalization of $36.86 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.13 and a beta of 0.73. The stock has a fifty day moving average of $31.34 and a two-hundred day moving average of $30.45. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company's revenue was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, research analysts expect that Kinross Gold Corporation will post 2.9 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold's dividend payout ratio is currently 6.78%.

Wall Street Analysts Forecast Growth

KGC has been the subject of several recent research reports. Weiss Ratings downgraded shares of Kinross Gold from a "buy (a+)" rating to a "buy (a-)" rating in a research report on Friday, May 1st. Zacks Research downgraded shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. Royal Bank Of Canada raised shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, January 26th. Finally, Wall Street Zen cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Kinross Gold has an average rating of "Moderate Buy" and an average target price of $38.81.

Kinross Gold Company Profile

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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