Ruffer LLP Lowers Stock Position in Kinross Gold Corporation (NYSE:KGC)

Key Points

• Ruffer LLP has decreased its stake in Kinross Gold Corporation by 51.3%, now holding approximately $45.57 million worth of shares, which constitutes about 1.8% of its total portfolio.
• Analysts have recently raised their price target for Kinross Gold, with estimates now ranging from $15.00 to $19.00, and an average consensus target price of $18.20.
• Although Kinross Gold reported a significant increase in quarterly revenue, the company has announced a quarterly dividend of $0.03 per share, reflecting a yield of 0.7% and a payout ratio of 9.68%.

Ruffer LLP decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 51.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,613,816 shares of the mining company's stock after selling 3,814,154 shares during the quarter. Kinross Gold makes up about 1.8% of Ruffer LLP's investment portfolio, making the stock its 13th biggest holding. Ruffer LLP owned 0.29% of Kinross Gold worth $45,569,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold during the 1st quarter worth about $55,000. Farther Finance Advisors LLC lifted its position in Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after acquiring an additional 2,561 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of 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 purchasing an additional 1,787 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock worth $98,000 after purchasing an additional 2,110 shares during the period. Institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Up 1.2%

Shares of NYSE:KGC traded up $0.22 during trading on Friday, reaching $18.99. The stock had a trading volume of 17,108,245 shares, compared to its average volume of 21,016,934. Kinross Gold Corporation has a 52 week low of $8.31 and a 52 week high of $19.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm's fifty day moving average is $15.78 and its 200 day moving average is $13.76. The stock has a market cap of $23.14 billion, a price-to-earnings ratio of 15.31, a P/E/G ratio of 0.62 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly 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 return on equity of 20.04% and a net margin of 25.18%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business posted $0.14 EPS. The business's revenue was up 41.7% compared to the same quarter last year. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's payout ratio is 9.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets began coverage on Kinross Gold in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. UBS Group assumed coverage on shares of Kinross Gold in a research report on Monday. They set a "buy" rating and a $20.00 price objective for the company. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Finally, Canaccord Genuity Group boosted their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Kinross Gold currently has an average rating of "Buy" and a consensus target price 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.