Kinross Gold Corporation $KGC Shares Sold by XTX Topco Ltd

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 trimmed its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 83.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,612 shares of the mining company's stock after selling 70,501 shares during the period. XTX Topco Ltd's holdings in Kinross Gold were worth $172,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Banque Cantonale Vaudoise purchased a new position in Kinross Gold during the first quarter worth approximately $55,000. Farther Finance Advisors LLC increased its holdings in Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock worth $98,000 after purchasing an additional 2,110 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC stock traded down $0.09 during midday trading on Monday, hitting $19.25. 7,631,033 shares of the stock were exchanged, compared to its average volume of 20,865,898. Kinross Gold Corporation has a fifty-two week low of $8.31 and a fifty-two week high of $19.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The stock's 50-day moving average price is $16.24 and its 200-day moving average price is $14.15. The stock has a market cap of $23.39 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 0.64 and a beta of 0.55.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business earned $0.14 earnings per share. The business's revenue was up 41.7% on a year-over-year basis. Research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank Of Canada upped 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. Canaccord Genuity Group raised their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Finally, CIBC boosted their target price on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $20.07.

About Kinross Gold

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.