Two Sigma Advisers LP Sells 137,819 Shares of Kinross Gold Co. (NYSE:KGC)

Two Sigma Advisers LP cut its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,878,101 shares of the mining company's stock after selling 137,819 shares during the period. Two Sigma Advisers LP owned about 0.15% of Kinross Gold worth $17,579,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in shares of Kinross Gold during the second quarter valued at approximately $40,000. Fifth Third Bancorp increased its position in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock valued at $80,000 after purchasing an additional 9,375 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock worth $94,000 after purchasing an additional 6,011 shares during the period. Corundum Trust Company INC purchased a new position in shares of Kinross Gold in the 3rd quarter worth about $94,000. Finally, OneDigital Investment Advisors LLC bought a new position in Kinross Gold during the third quarter valued at about $94,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kinross Gold Price Performance

Kinross Gold stock traded up $0.17 during midday trading on Monday, reaching $9.92. 16,079,100 shares of the stock were exchanged, compared to its average volume of 15,492,488. The company's fifty day moving average is $9.94 and its 200-day moving average is $9.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The firm has a market cap of $12.19 billion, a PE ratio of 15.98, a PEG ratio of 0.44 and a beta of 1.22.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, November 27th. Kinross Gold's payout ratio is currently 19.67%.

Kinross Gold Company 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.