XTX Topco Ltd Sells 70,501 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• XTX Topco Ltd has significantly cut its stake in Kinross Gold Corporation by 83.8%, selling 70,501 shares and holding 13,612 shares valued at $172,000 after the transaction.
• Multiple institutional investors have increased their positions in Kinross Gold, with Mackenzie Financial Corp boosting its stake by 21.2% and Artemis Investment Management LLP raising its holding by 365.8% in the first quarter.
• Kinross Gold announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.6%, with a dividend payout ratio of 9.68%.

XTX Topco Ltd decreased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 83.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,612 shares of the mining company's stock after selling 70,501 shares during the quarter. XTX Topco Ltd's holdings in Kinross Gold were worth $172,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in Kinross Gold by 21.2% during the 4th quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock valued at $129,435,000 after acquiring an additional 2,438,445 shares during the period. Dimensional Fund Advisors LP raised its position in Kinross Gold by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,419,382 shares of the mining company's stock valued at $87,310,000 after purchasing an additional 160,755 shares in the last quarter. Man Group plc raised its position in Kinross Gold by 174.2% during 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 in the last quarter. Allianz Asset Management GmbH raised its position in shares of Kinross Gold by 35.5% in the 1st quarter. Allianz Asset Management GmbH now owns 6,947,056 shares of the mining company's stock worth $87,510,000 after acquiring an additional 1,819,165 shares in the last quarter. Finally, Artemis Investment Management LLP raised its position in shares of Kinross Gold by 365.8% in the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after acquiring an additional 5,400,447 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KGC. CIBC upped their target price on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Royal Bank Of Canada boosted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and upped their target price for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 target price on the stock in a research note on Monday, June 30th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Stock Performance

Shares of KGC stock opened at $19.06 on Thursday. The business's 50 day moving average is $16.08 and its two-hundred day moving average is $14.00. Kinross Gold Corporation has a 12-month low of $8.31 and a 12-month high of $19.45. The company has a market capitalization of $23.16 billion, a P/E ratio of 15.37, a P/E/G ratio of 0.64 and a beta of 0.55. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

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

Kinross Gold Announces Dividend

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

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.

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