Groupe la Francaise Has $10.55 Million Stock Holdings in Kinross Gold Corporation $KGC

Groupe la Francaise reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 678,000 shares of the mining company’s stock after selling 47,000 shares during the period. Groupe la Francaise owned 0.06% of Kinross Gold worth $10,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MAI Capital Management boosted its holdings in Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after acquiring an additional 907 shares during the last quarter. IFP Advisors Inc lifted its position in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares during the period. Headlands Technologies LLC bought a new position in shares of Kinross Gold in the 1st quarter valued at about $77,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Kinross Gold during the 1st quarter worth approximately $84,000. Finally, Arista Wealth Management LLC acquired a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $156,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the topic of several analyst reports. TD Securities increased their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial upped their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Desjardins assumed coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating on the stock. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus target price of $27.94.

Kinross Gold Trading Down 3.1%

NYSE KGC opened at $27.47 on Wednesday. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $28.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm has a market cap of $33.17 billion, a P/E ratio of 22.16, a P/E/G ratio of 0.42 and a beta of 0.74. The stock’s 50-day moving average is $24.96 and its 200-day moving average is $20.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s payout ratio is currently 9.79%.

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.