Kinross Gold Corporation $KGC Shares Sold by Genus Capital Management Inc.

Key Points

• Genus Capital Management cut its Kinross Gold stake by 40.8% in the fourth quarter, selling 155,530 shares and leaving it with 225,810 shares worth about $6.37 million.
• Kinross Gold recently posted better-than-expected earnings of $0.71 per share, while revenue rose 60.8% from a year earlier to $2.37 billion.
• The company also declared a quarterly dividend of $0.04 per share, and analysts currently rate the stock a Moderate Buy with an average price target of $38.81.

Genus Capital Management Inc. decreased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 225,810 shares of the mining company's stock after selling 155,530 shares during the quarter. Genus Capital Management Inc.'s holdings in Kinross Gold were worth $6,369,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its holdings in Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company's stock valued at $2,682,791,000 after acquiring an additional 7,825,336 shares in the last quarter. Vanguard Group Inc. lifted its position 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 worth $1,433,345,000 after buying an additional 148,845 shares during the last quarter. Boston Partners lifted its position 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 worth $1,133,463,000 after buying an additional 707,498 shares during the last quarter. Man Group plc lifted 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 worth $261,646,000 after buying an additional 5,411,491 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of 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 buying an additional 2,018,572 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 $28.27 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The stock has a market capitalization of $33.71 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.01 and a beta of 0.73. The company's fifty day moving average is $30.80 and its two-hundred day moving average is $30.67. Kinross Gold Corporation has a 1 year low of $14.35 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. The company 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%. Kinross Gold's revenue was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. On average, sell-side analysts predict that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold's payout ratio is currently 6.78%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KGC. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research report on Wednesday, February 4th. Weiss Ratings downgraded shares of Kinross Gold from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Wednesday. Royal Bank Of Canada upgraded shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $36.00 to $45.00 in a research report 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 research report on Monday, January 26th. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.