Maryland State Retirement & Pension System Decreases Stock Position in Kinross Gold Corporation $KGC

Maryland State Retirement & Pension System cut its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 11.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 436,641 shares of the mining company's stock after selling 56,872 shares during the quarter. Maryland State Retirement & Pension System's holdings in Kinross Gold were worth $6,822,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in KGC. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold in the first quarter valued at $55,000. Farther Finance Advisors LLC grew its position in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new position in Kinross Gold during the first quarter worth about $77,000. SBI Securities Co. Ltd. grew its position in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after buying an additional 1,787 shares in the last quarter. Finally, Wealth Preservation Advisors LLC purchased a new position in Kinross Gold during the first quarter worth about $84,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 0.1%

NYSE KGC opened at $25.29 on Thursday. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $25.91. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $21.48 and a 200-day moving average of $17.01. The firm has a market cap of $30.66 billion, a PE ratio of 20.40, 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 released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. As a group, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. 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 dividend payout ratio is 9.68%.

Analyst Ratings Changes

KGC has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (a-)" rating on shares of Kinross Gold in a research report on Wednesday. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a research report on Monday, June 30th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Finally, CIBC boosted their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $22.19.

Kinross Gold Company 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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