American Century Companies Inc. Sells 606,700 Shares of Kinross Gold Co. (NYSE:KGC)

American Century Companies Inc. cut its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,749,201 shares of the mining company’s stock after selling 606,700 shares during the period. American Century Companies Inc. owned about 0.63% of Kinross Gold worth $64,497,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KGC. Andra AP fonden bought a new stake in Kinross Gold in the 2nd quarter valued at $13,181,000. LGT Fund Management Co Ltd. bought a new position in Kinross Gold during the second quarter worth about $175,000. United Services Automobile Association lifted its stake in Kinross Gold by 8.2% during the second quarter. United Services Automobile Association now owns 51,285 shares of the mining company’s stock worth $427,000 after purchasing an additional 3,901 shares during the period. Mount Lucas Management LP boosted its holdings in Kinross Gold by 134.7% during the second quarter. Mount Lucas Management LP now owns 174,893 shares of the mining company’s stock valued at $1,455,000 after purchasing an additional 100,380 shares in the last quarter. Finally, Triasima Portfolio Management inc. grew its stake in shares of Kinross Gold by 0.6% in the 2nd quarter. Triasima Portfolio Management inc. now owns 4,229,150 shares of the mining company’s stock valued at $35,194,000 after purchasing an additional 26,700 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 0.6 %

Shares of NYSE:KGC opened at $9.84 on Monday. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The firm has a market cap of $12.09 billion, a P/E ratio of 27.33, a P/E/G ratio of 0.56 and a beta of 1.23. Kinross Gold Co. has a 12 month low of $4.32 and a 12 month high of $10.10. The company’s 50-day moving average price is $8.92 and its two-hundred day moving average price is $7.61.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. Kinross Gold’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Co. will post 0.58 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Scotiabank boosted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. BMO Capital Markets upped their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Jefferies Financial Group increased their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, CIBC boosted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $9.33.

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.