Trexquant Investment LP Sells 576,136 Shares of Kinross Gold Corporation $KGC

Key Points

• Trexquant Investment LP sold 576,136 shares of Kinross Gold Corporation, reducing its stake by 28.5%, leaving it with approximately 1.45 million shares valued at $18.26 million.
• Multiple institutional investors, including Vanguard Group Inc. and Boston Partners, have increased their holdings in Kinross Gold, reflecting strong demand for the stock.
• Analyst ratings for Kinross Gold have been positive, with revisions including target price increases and multiple "buy" recommendations, indicating a bullish outlook for the company.

Trexquant Investment LP cut its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 28.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,447,728 shares of the mining company's stock after selling 576,136 shares during the quarter. Trexquant Investment LP owned 0.12% of Kinross Gold worth $18,256,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Preservation Advisors LLC acquired a new position in shares of Kinross Gold during the 1st quarter valued at about $84,000. FORA Capital LLC bought a new position in Kinross Gold in the 1st quarter worth approximately $1,869,000. Harvest Portfolios Group Inc. raised its stake in shares of Kinross Gold by 6.7% during the first quarter. Harvest Portfolios Group Inc. now owns 50,545 shares of the mining company's stock worth $637,000 after buying an additional 3,184 shares during the last quarter. ICONIQ Capital LLC grew its position in shares of Kinross Gold by 20.7% during the 1st quarter. ICONIQ Capital LLC now owns 12,530 shares of the mining company's stock worth $158,000 after buying an additional 2,146 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its holdings in shares of Kinross Gold by 20.0% in the first quarter. Campbell & CO Investment Adviser LLC now owns 141,271 shares of the mining company's stock worth $1,781,000 after acquiring an additional 23,557 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

NYSE KGC traded up $0.41 on Wednesday, hitting $21.87. 7,969,944 shares of the stock traded hands, compared to its average volume of 20,590,996. Kinross Gold Corporation has a 12 month low of $8.31 and a 12 month high of $21.93. The business's fifty day moving average is $17.33 and its two-hundred day moving average is $14.82. The firm has a market capitalization of $26.57 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 0.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

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 the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm's quarterly revenue was up 41.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 21st. Kinross Gold's payout ratio is presently 9.68%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. CIBC boosted their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Scotiabank upped their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada lifted their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of "Moderate Buy" and an average 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.