Kinross Gold Corporation $KGC Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lessened its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,475 shares of the mining company’s stock after selling 54,451 shares during the period. Daiwa Securities Group Inc.’s holdings in Kinross Gold were worth $7,673,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Caitlin John LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the third quarter valued at approximately $28,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on KGC shares. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group cut their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Price Performance

KGC opened at $26.15 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52-week low of $14.71 and a 52-week high of $39.11. The company has a 50 day moving average of $30.68 and a two-hundred day moving average of $30.95. The company has a market cap of $31.19 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.93 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. Kinross Gold’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, analysts expect that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is currently 6.78%.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.