Teachers Retirement System of The State of Kentucky Buys Shares of 149,760 Kinross Gold Corporation $KGC

Key Points

• Teachers Retirement System of The State of Kentucky opened a new position in Kinross Gold during Q1, buying 149,760 shares valued at about $4.57 million.
• Kinross Gold reported strong quarterly results, with EPS of $0.71 beating estimates and revenue rising 60.8% year over year to $2.37 billion.
• The company also paid a quarterly dividend of $0.04 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $37.31.

Teachers Retirement System of The State of Kentucky acquired a new position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 149,760 shares of the mining company's stock, valued at approximately $4,571,000.

Other hedge funds also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Kinross Gold during the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Virtus Advisers LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $28,000. Ascentis Independent Advisors acquired a new stake in shares of Kinross Gold in the 1st quarter valued at approximately $29,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after buying an additional 589 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $23.89 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The stock's fifty day moving average price is $26.94 and its two-hundred day moving average price is $30.48. Kinross Gold Corporation has a one year low of $15.10 and a one year high of $39.11. The firm has a market cap of $28.34 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 0.62 and a beta of 0.78.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter last year, the business earned $0.30 EPS. The company's quarterly revenue was up 60.8% compared to the same quarter last year. On average, equities analysts forecast that Kinross Gold Corporation will post 2.7 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

Analyst Ratings Changes

KGC has been the topic of a number of recent analyst reports. Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. Scotiabank cut their price target on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a research note on Tuesday. Wall Street Zen downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 24th. Royal Bank Of Canada lowered their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group dropped their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.31.

Kinross Gold Profile

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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