Kinross Gold Corporation $KGC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP cut its stake in Kinross Gold by 18.4%, selling 1,853,005 shares and ending the quarter with 8,223,877 shares (about 0.68% of the company, valued at ~$204.34M).
• Kinross beat quarterly expectations with EPS $0.67 vs. $0.55 and revenue of $2.01B (up 42.9% year-over-year), and declared a quarterly dividend of $0.04 ($0.16 annualized, ~0.5% yield).
• Institutional ownership remains high at ~63.69%, with large investors (Vanguard, Norges Bank, Man Group, Geode, AustralianSuper) adding or initiating positions; analysts' consensus is a "Moderate Buy" with a $36.31 target.

Dimensional Fund Advisors LP reduced its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 18.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,223,877 shares of the mining company's stock after selling 1,853,005 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.68% of Kinross Gold worth $204,339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KGC. Vanguard Group Inc. lifted its holdings in Kinross Gold by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company's stock worth $1,259,280,000 after buying an additional 1,553,594 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold in the 2nd quarter valued at approximately $389,025,000. Man Group plc raised its position in shares of Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock valued at $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kinross Gold by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company's stock valued at $172,571,000 after acquiring an additional 1,876,764 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in Kinross Gold by 50.6% during the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company's stock worth $228,227,000 after purchasing an additional 3,089,959 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of KGC opened at $32.54 on Monday. The firm has a fifty day moving average of $33.45 and a 200-day moving average of $27.84. The company has a market cap of $39.04 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.59 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. Kinross Gold Corporation has a 1 year low of $10.42 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analysts' expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company's revenue for the quarter was up 42.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 EPS. As a group, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, March 11th. This is an increase from Kinross Gold's previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is 7.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. Wall Street Zen cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Monday, March 2nd. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research report on Wednesday, February 4th. UBS Group set a $43.00 price target on shares of Kinross Gold in a report on Friday, January 30th. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.31.

Kinross Gold 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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