Generali Asset Management SPA SGR Sells 59,190 Shares of Kinross Gold Corporation $KGC

Generali Asset Management SPA SGR decreased its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 52.5% in the 3rd quarter, Holdings Channel reports. The fund owned 53,465 shares of the mining company’s stock after selling 59,190 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Kinross Gold were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in Kinross Gold by 1.1% in the 2nd quarter. Evergreen Capital Management LLC now owns 56,135 shares of the mining company’s stock worth $877,000 after purchasing an additional 593 shares during the period. Armstrong Advisory Group Inc. raised its stake in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after purchasing an additional 717 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in shares of Kinross Gold by 1.4% in the second quarter. Elevation Point Wealth Partners LLC now owns 56,907 shares of the mining company’s stock valued at $889,000 after purchasing an additional 783 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after buying an additional 835 shares during the period. Finally, MAI Capital Management grew its holdings in shares of Kinross Gold by 22.0% during the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after buying an additional 907 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on KGC shares. Raymond James Financial boosted their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. TD Securities boosted their price objective on shares of Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 20th. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Price Performance

NYSE:KGC opened at $28.26 on Monday. Kinross Gold Corporation has a 1-year low of $9.64 and a 1-year high of $29.90. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $26.50 and a 200 day simple moving average of $22.31. The stock has a market capitalization of $34.01 billion, a PE ratio of 19.76, a P/E/G ratio of 0.30 and a beta of 0.75.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were paid a $0.035 dividend. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

Kinross Gold Profile

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.