Kinross Gold Corporation $KGC Stock Holdings Decreased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management reduced its stake in Kinross Gold Corporation by 29.2%, now holding 859,091 shares valued at approximately $13.4 million.
• Vanguard Group, Boston Partners, and Goldman Sachs are among several large investors who increased their holdings in Kinross Gold during the first quarter, indicating ongoing institutional interest.
• Kinross Gold reported a quarterly earnings per share of $0.44, exceeding analysts' expectations, with revenue rising 41.7% year-over-year to $1.75 billion.

Triasima Portfolio Management inc. decreased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 29.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 859,091 shares of the mining company's stock after selling 354,541 shares during the quarter. Kinross Gold makes up 2.4% of Triasima Portfolio Management inc.'s holdings, making the stock its 6th largest holding. Triasima Portfolio Management inc. owned 0.07% of Kinross Gold worth $13,398,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock valued at $603,829,000 after buying an additional 561,563 shares in the last quarter. Boston Partners lifted its stake in shares of Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after buying an additional 12,705,061 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kinross Gold by 6.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company's stock valued at $126,378,000 after buying an additional 603,388 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kinross Gold by 95.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock valued at $87,639,000 after buying an additional 3,398,687 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of Kinross Gold by 35.5% during the 1st quarter. Allianz Asset Management GmbH now owns 6,947,056 shares of the mining company's stock valued at $87,510,000 after buying an additional 1,819,165 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

Kinross Gold stock opened at $25.25 on Wednesday. The company's 50-day moving average price is $21.29 and its 200-day moving average price is $16.95. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $25.79. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market cap of $30.61 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $0.14 EPS. The business's quarterly revenue was up 41.7% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. 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 Analysts Forecast Growth

A number of brokerages have issued reports on KGC. Weiss Ratings reiterated a "buy (a-)" rating on shares of Kinross Gold in a report on Saturday, September 27th. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. Zacks Research downgraded shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. UBS Group lifted their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the company a "buy" rating in a report on Friday, September 19th. Finally, Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $21.07.

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.

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