Quantinno Capital Management LP Increases Holdings in Kinross Gold Co. (NYSE:KGC)

Quantinno Capital Management LP boosted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 12.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,026 shares of the mining company’s stock after buying an additional 3,958 shares during the period. Quantinno Capital Management LP’s holdings in Kinross Gold were worth $347,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in shares of Kinross Gold in the third quarter valued at about $848,000. Integrated Wealth Concepts LLC grew its stake in shares of Kinross Gold by 2.0% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 188,263 shares of the mining company’s stock valued at $1,762,000 after buying an additional 3,620 shares during the period. Cinctive Capital Management LP acquired a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $6,597,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Kinross Gold in the third quarter valued at approximately $3,026,000. Finally, Point72 Hong Kong Ltd purchased a new position in Kinross Gold in the third quarter worth approximately $144,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KGC has been the topic of several recent analyst reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group upped their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $9.77 on Monday. The stock has a market capitalization of $12.01 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business has a 50-day moving average of $10.00 and a 200 day moving average of $9.15. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

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.