1832 Asset Management L.P. Decreases Holdings in Kinross Gold Corporation $KGC

1832 Asset Management L.P. trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,001,376 shares of the mining company’s stock after selling 566,225 shares during the period. 1832 Asset Management L.P.’s holdings in Kinross Gold were worth $93,802,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in KGC. Headlands Technologies LLC purchased a new stake in Kinross Gold during the first quarter worth about $77,000. MAI Capital Management increased its stake in shares of Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after purchasing an additional 907 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the period. Wealth Preservation Advisors LLC purchased a new position in Kinross Gold in the first quarter valued at approximately $84,000. Finally, Arista Wealth Management LLC purchased a new position in Kinross Gold in the second quarter valued at approximately $156,000. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KGC. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Raymond James Financial lifted their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. UBS Group upped their price objective on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.94.

Kinross Gold Trading Down 1.3%

Shares of KGC opened at $27.13 on Thursday. The business’s 50-day moving average price is $25.04 and its 200-day moving average price is $20.23. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $28.81. The stock has a market cap of $32.75 billion, a PE ratio of 18.97, a P/E/G ratio of 0.42 and a beta of 0.74.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $0.24 earnings per share. Kinross Gold’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

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

Kinross Gold 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.