Kinross Gold Co. (NYSE:KGC) Stock Position Reduced by Boston Partners

Boston Partners cut its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 18.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,983,931 shares of the mining company’s stock after selling 1,368,266 shares during the period. Boston Partners owned about 0.49% of Kinross Gold worth $37,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its position in Kinross Gold by 45.3% during the second quarter. LPL Financial LLC now owns 275,817 shares of the mining company’s stock valued at $1,316,000 after purchasing an additional 85,972 shares in the last quarter. Oxbow Advisors LLC bought a new stake in Kinross Gold in the second quarter worth approximately $270,000. TD Asset Management Inc grew its position in Kinross Gold by 2.4% in the second quarter. TD Asset Management Inc now owns 4,015,965 shares of the mining company’s stock worth $19,181,000 after acquiring an additional 92,906 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Kinross Gold by 47.4% in the first quarter. Envestnet Asset Management Inc. now owns 130,369 shares of the mining company’s stock worth $614,000 after acquiring an additional 41,918 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Kinross Gold in the first quarter worth approximately $26,000. 49.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on KGC. Jefferies Financial Group decreased their target price on shares of Kinross Gold from $5.00 to $4.65 and set a “hold” rating for the company in a research report on Wednesday, October 4th. CSFB boosted their target price on shares of Kinross Gold from $5.25 to $5.50 and gave the stock a “negative” rating in a research report on Thursday, August 17th. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 6th. CIBC boosted their price objective on shares of Kinross Gold from $6.25 to $7.00 and gave the stock an “outperform” rating in a research note on Thursday, November 9th. Finally, Scotiabank boosted their price objective on shares of Kinross Gold from $6.25 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.08.

Kinross Gold Price Performance

NYSE:KGC opened at $5.32 on Friday. The stock has a market cap of $6.53 billion, a P/E ratio of 26.60 and a beta of 0.96. Kinross Gold Co. has a one year low of $3.40 and a one year high of $5.60. The company has a fifty day moving average price of $5.07 and a 200 day moving average price of $4.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.70 and a quick ratio of 1.06.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, November 8th. The mining company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Kinross Gold had a net margin of 5.83% and a return on equity of 8.43%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $964.04 million. Analysts anticipate that Kinross Gold Co. will post 0.4 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Wednesday, November 29th. Kinross Gold’s dividend payout ratio is 60.00%.

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. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.