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Mount Lucas Management LP Sells 59,571 Shares of Kinross Gold Corporation (NYSE:KGC)

Kinross Gold logo with Basic Materials background

Mount Lucas Management LP trimmed its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,136 shares of the mining company's stock after selling 59,571 shares during the period. Mount Lucas Management LP's holdings in Kinross Gold were worth $1,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. HighTower Advisors LLC purchased a new stake in Kinross Gold during the fourth quarter worth $114,000. Natixis Advisors LLC increased its position in shares of Kinross Gold by 40.2% during the fourth quarter. Natixis Advisors LLC now owns 140,431 shares of the mining company's stock worth $1,302,000 after purchasing an additional 40,250 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of Kinross Gold by 2.4% in the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock valued at $423,000 after acquiring an additional 1,079 shares during the period. American Century Companies Inc. increased its position in shares of Kinross Gold by 2.3% in the 4th quarter. American Century Companies Inc. now owns 7,711,646 shares of the mining company's stock valued at $71,561,000 after acquiring an additional 172,267 shares during the period. Finally, LPL Financial LLC increased its position in shares of Kinross Gold by 81.5% in the 4th quarter. LPL Financial LLC now owns 383,758 shares of the mining company's stock valued at $3,557,000 after acquiring an additional 172,266 shares during the period. 63.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

KGC has been the topic of a number of research reports. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a research note on Monday, June 30th. Royal Bank Of Canada raised their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Scotiabank lifted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, CIBC boosted their price target on shares of Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of "Buy" and an average price target of $18.00.

Get Our Latest Analysis on Kinross Gold

Kinross Gold Trading Up 3.1%

NYSE KGC opened at $16.42 on Wednesday. Kinross Gold Corporation has a 12 month low of $7.84 and a 12 month high of $16.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. The company's fifty day moving average price is $15.11 and its two-hundred day moving average price is $13.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. As a group, research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's payout ratio is 12.24%.

Kinross Gold Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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