Hsbc Holdings PLC Sells 1,242,389 Shares of Kinross Gold Corporation $KGC

Hsbc Holdings PLC reduced its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 95.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,989 shares of the mining company’s stock after selling 1,242,389 shares during the period. Hsbc Holdings PLC’s holdings in Kinross Gold were worth $1,725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Korea Investment CORP boosted its position in Kinross Gold by 372.4% in the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock valued at $81,793,000 after buying an additional 2,597,455 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Kinross Gold by 4.7% in the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock valued at $165,814,000 after acquiring an additional 261,861 shares during the last quarter. Prospera Financial Services Inc raised its stake in shares of Kinross Gold by 369.0% in the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock valued at $2,439,000 after acquiring an additional 68,154 shares during the last quarter. Man Group plc boosted its stake in Kinross Gold by 7.6% in the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares in the last quarter. Finally, FORA Capital LLC bought a new stake in Kinross Gold during the 3rd quarter worth about $2,060,000. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KGC shares. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. TD Securities reduced their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Finally, UBS Group cut their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.94.

Kinross Gold Trading Down 0.6%

NYSE:KGC opened at $23.64 on Wednesday. The stock has a market capitalization of $28.11 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.84 and a beta of 0.71. Kinross Gold Corporation has a fifty-two week low of $15.04 and a fifty-two week high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The business’s 50-day simple moving average is $28.45 and its 200-day simple moving average is $30.79.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts expect that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is 6.78%.

Kinross Gold Company 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.