PDT Partners LLC Cuts Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• PDT Partners LLC has reduced its stake in Kinross Gold Corporation by 42.7% during the first quarter, now holding 37,969 shares valued at approximately $479,000.
• Kinross Gold reported a 41.7% increase in quarterly revenue year-over-year, totaling $1.75 billion, and earnings per share of $0.44, exceeding analysts' expectations.
• The company recently declared a $0.03 quarterly dividend, reflecting an annualized yield of 0.6% and a payout ratio of 9.68%.

PDT Partners LLC trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 42.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,969 shares of the mining company's stock after selling 28,285 shares during the period. PDT Partners LLC's holdings in Kinross Gold were worth $479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC boosted its holdings in shares of Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Kinross Gold in the 1st quarter valued at about $77,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after buying an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after buying an additional 1,787 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

KGC traded up $0.46 during trading on Wednesday, reaching $22.83. 3,876,501 shares of the company's stock were exchanged, compared to its average volume of 20,489,564. Kinross Gold Corporation has a 1 year low of $8.89 and a 1 year high of $22.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The stock has a market capitalization of $27.74 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 0.75 and a beta of 0.62. The company's fifty day simple moving average is $18.00 and its 200-day simple moving average is $15.20.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) 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 company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm posted $0.14 EPS. Kinross Gold's revenue for the quarter was up 41.7% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

Analyst Ratings Changes

KGC has been the topic of a number of recent analyst reports. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Canaccord Genuity Group raised their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. CIBC raised their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. 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. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.07.

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.