Ruffer LLP Sells 2,672,979 Shares of Kinross Gold Corporation $KGC

Key Points

• Ruffer LLP has significantly reduced its position in Kinross Gold Corporation by 74%, now holding 940,837 shares after selling 2,672,979 shares during the second quarter.
• The stock has seen varied analyst ratings, with Zacks Research downgrading it to a "hold" while Jefferies Financial Group upgraded it to a "buy" and revised the price target upwards from $14 to $18.
• The company announced a quarterly dividend of $0.03 per share, representing an annual yield of 0.5%, with a current payout ratio of 9.68%.

Ruffer LLP reduced its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 74.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 940,837 shares of the mining company's stock after selling 2,672,979 shares during the quarter. Ruffer LLP owned about 0.08% of Kinross Gold worth $14,705,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in Kinross Gold during the 1st quarter worth $55,000. Farther Finance Advisors LLC increased its holdings in Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the period. Headlands Technologies LLC purchased a new position in Kinross Gold during the 1st quarter worth $77,000. Bruce G. Allen Investments LLC increased its holdings in Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in Kinross Gold by 39.3% during the 1st 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. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on KGC shares. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a report on Monday, June 30th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Finally, CIBC lifted their price target on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $21.07.

Kinross Gold Stock Down 4.8%

Shares of KGC stock opened at $23.32 on Thursday. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $24.91. The stock's fifty day moving average price is $19.69 and its 200 day moving average price is $16.10. 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 company has a market cap of $28.27 billion, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.62.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 41.7% on a year-over-year basis. On average, research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company 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 payout ratio is currently 9.68%.

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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