SG Americas Securities LLC Trims Stake in Kinross Gold Co. (NYSE:KGC)


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SG Americas Securities LLC cut its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 18.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 184,578 shares of the mining company’s stock after selling 41,789 shares during the period. SG Americas Securities LLC’s holdings in Kinross Gold were worth $1,355,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Kinross Gold by 10.7% in the third quarter. Van ECK Associates Corp now owns 144,215,456 shares of the mining company’s stock worth $1,271,980,000 after acquiring an additional 13,911,897 shares in the last quarter. Brookstone Capital Management bought a new stake in Kinross Gold in the fourth quarter worth $80,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Kinross Gold in the third quarter worth $612,000. Pendal Group Limited bought a new stake in Kinross Gold in the fourth quarter worth $6,643,000. Finally, Envestnet Asset Management Inc. lifted its stake in Kinross Gold by 16.5% in the third quarter. Envestnet Asset Management Inc. now owns 160,991 shares of the mining company’s stock worth $1,420,000 after purchasing an additional 22,836 shares during the last quarter. Institutional investors own 51.64% of the company’s stock.

KGC has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price objective on shares of Kinross Gold from $14.75 to $14.50 and set a “buy” rating for the company in a research note on Monday, February 8th. Credit Suisse Group reissued a “neutral” rating and issued a $10.50 price target on shares of Kinross Gold in a research note on Thursday, November 5th. TD Securities decreased their price target on shares of Kinross Gold from $14.00 to $13.50 and set a “buy” rating for the company in a research note on Friday, February 12th. Raymond James set a $13.00 price target on shares of Kinross Gold and gave the stock an “outperform” rating in a research note on Friday, February 12th. Finally, National Bank Financial reissued an “outperform” rating on shares of Kinross Gold in a research note on Monday, January 11th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Kinross Gold presently has an average rating of “Buy” and an average price target of $11.80.

KGC opened at $6.93 on Tuesday. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 8.15 and a beta of 0.79. The company has a fifty day moving average of $7.16 and a 200 day moving average of $8.02. Kinross Gold Co. has a fifty-two week low of $2.72 and a fifty-two week high of $10.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.98 and a current ratio of 1.76.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, February 9th. The mining company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Kinross Gold had a net margin of 26.92% and a return on equity of 14.20%. Kinross Gold’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. On average, equities research analysts forecast that Kinross Gold Co. will post 0.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 18th. Shareholders of record on Wednesday, March 3rd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, March 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.73%. Kinross Gold’s payout ratio is currently 35.29%.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, 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.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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