Wellington Management Group LLP Sells 176,654 Shares of Kinross Gold Corporation $KGC

Key Points

• Wellington Management Group LLP reduced its stake in Kinross Gold Corporation by 20.6% in the first quarter, holding 679,145 shares valued at approximately $8.56 million.
• Other large investors have increased their positions significantly, with Boston Partners raising its stake by 36.5% and Artemis Investment Management growing its position by 365.8%.
• Kinross Gold recently declared a quarterly dividend of $0.03, with a payout ratio of 9.68%, and reported earnings exceeding analysts' expectations with a 25.18% net margin.

Wellington Management Group LLP reduced its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 20.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 679,145 shares of the mining company's stock after selling 176,654 shares during the period. Wellington Management Group LLP owned 0.06% of Kinross Gold worth $8,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. Capital Investment Advisors LLC increased its position in shares of Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after buying an additional 850 shares during the period. Cresset Asset Management LLC increased its position in shares of Kinross Gold by 3.0% during the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after buying an additional 1,013 shares during the period. S.A. Mason LLC increased its position in shares of Kinross Gold by 6.0% during the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock valued at $281,000 after buying an additional 1,250 shares during the period. OneDigital Investment Advisors LLC increased its position in shares of Kinross Gold by 12.5% during the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock valued at $142,000 after buying an additional 1,250 shares during the period. Finally, R Squared Ltd increased its position in shares of Kinross Gold by 11.1% during the first quarter. R Squared Ltd now owns 17,080 shares of the mining company's stock valued at $215,000 after buying an additional 1,710 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

KGC traded up $0.71 during midday trading on Friday, hitting $20.93. The stock had a trading volume of 18,160,247 shares, compared to its average volume of 17,374,006. The company has a market cap of $25.44 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. The business has a fifty day moving average of $17.11 and a 200 day moving average of $14.71. 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 Corporation has a 1 year low of $8.31 and a 1 year high of $20.97.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Analyst Upgrades and Downgrades

KGC has been the topic of several analyst reports. Scotiabank upped their price target on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. CIBC boosted their price objective on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. UBS Group began coverage on Kinross Gold in a report on Monday, August 4th. They set a "buy" rating and a $20.00 price objective for the company. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $18.00 in a report 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 report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average price target of $20.07.

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.