Teachers Retirement System of The State of Kentucky Trims Stake in Kinross Gold Corporation (NYSE:KGC)

Teachers Retirement System of The State of Kentucky reduced its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 323,700 shares of the mining company's stock after selling 34,600 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Kinross Gold were worth $4,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KGC. Norges Bank purchased a new stake in shares of Kinross Gold in the 4th quarter valued at about $280,697,000. Man Group plc lifted its holdings in shares of Kinross Gold by 174.2% in the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after purchasing an additional 5,871,904 shares during the last quarter. Artemis Investment Management LLP raised its stake in Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after acquiring an additional 5,400,447 shares during the last quarter. Renaissance Technologies LLC raised its stake in Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new stake in Kinross Gold during the 1st quarter valued at approximately $33,877,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of several analyst reports. CIBC upped their price objective on Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a research note on Tuesday, July 15th. Scotiabank upped their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average price target of $18.00.

Kinross Gold Stock Performance

Shares of KGC stock opened at $15.95 on Tuesday. The company has a market cap of $19.56 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63. The stock has a 50 day simple moving average of $15.11 and a 200-day simple moving average of $13.18. Kinross Gold Corporation has a 12-month low of $7.84 and a 12-month high of $16.19. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The company's revenue for the quarter was up 38.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

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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