Public Employees Retirement System of Ohio Grows Holdings in Kinross Gold Corporation $KGC

Public Employees Retirement System of Ohio lifted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 328.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 911,908 shares of the mining company’s stock after buying an additional 699,263 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kinross Gold were worth $27,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in Kinross Gold in the fourth quarter valued at $26,000. Financial Management Professionals Inc. acquired a new position in Kinross Gold during the 4th quarter worth $26,000. Virtus Advisers LLC acquired a new position in Kinross Gold during the 3rd quarter worth $28,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold in the 1st quarter worth about $29,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on KGC shares. Scotiabank cut their target price on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. Finally, Zacks Research cut Kinross Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.31.

Kinross Gold Stock Performance

Kinross Gold stock opened at $23.86 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. Kinross Gold Corporation has a 12 month low of $15.37 and a 12 month high of $39.11. The company has a fifty day moving average price of $25.74 and a two-hundred day moving average price of $30.17. The company has a market cap of $28.30 billion, a PE ratio of 10.11, a P/E/G ratio of 0.64 and a beta of 0.78.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share. Research analysts expect that Kinross Gold Corporation will post 2.65 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold’s payout ratio is 6.78%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.