Kinross Gold Corporation $KGC Shares Sold by Plato Investment Management Ltd

Key Points

• Plato Investment Management Ltd reduced its holdings in Kinross Gold Corporation by 28.8%, selling 84,999 shares in the first quarter, leaving them with 210,351 shares worth $2.68 million.
• Kinross Gold reported earnings of $0.44 per share for the most recent quarter, exceeding estimates, with a revenue increase of 41.7% year-over-year.
• The company has announced a quarterly dividend of $0.03, resulting in a 0.5% dividend yield, and has an average price target from analysts of approximately $20.07.

Plato Investment Management Ltd decreased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,351 shares of the mining company's stock after selling 84,999 shares during the period. Plato Investment Management Ltd's holdings in Kinross Gold were worth $2,679,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Kinross Gold by 8.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock valued at $2,204,000 after acquiring an additional 18,135 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of Kinross Gold by 21.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company's stock valued at $4,076,000 after acquiring an additional 57,966 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock valued at $87,639,000 after acquiring an additional 3,398,687 shares in the last quarter. Sprott Inc. raised its stake in Kinross Gold by 1.7% in the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company's stock worth $36,976,000 after buying an additional 48,905 shares in the last quarter. Finally, State of Wyoming raised its stake in Kinross Gold by 56.5% in the fourth quarter. State of Wyoming now owns 120,777 shares of the mining company's stock worth $1,120,000 after buying an additional 43,595 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

KGC traded down $0.02 on Monday, reaching $23.27. The company had a trading volume of 7,456,201 shares, compared to its average volume of 20,386,410. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $23.65. The stock has a market capitalization of $28.27 billion, a PE ratio of 18.75, a P/E/G ratio of 0.77 and a beta of 0.62. 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 stock has a 50-day moving average price of $18.44 and a 200-day moving average price of $15.49.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly 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. 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 during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the company earned $0.14 earnings per share. Kinross Gold's quarterly revenue was up 41.7% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's payout ratio is 9.68%.

Analyst Ratings Changes

A number of research firms have recently weighed in on KGC. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Canaccord Genuity Group upped 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. Royal Bank Of Canada increased their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Kinross Gold has a consensus rating of "Moderate Buy" and an average target price of $20.07.

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.