Kinross Gold Corporation $KGC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,447,826 shares of the mining company’s stock after selling 103,530 shares during the period. Bank of New York Mellon Corp’s holdings in Kinross Gold were worth $44,188,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Kinross Gold during the fourth quarter valued at about $26,000. Financial Management Professionals Inc. bought a new position in shares of Kinross Gold during the 4th quarter valued at about $26,000. Ascentis Independent Advisors bought a new position in shares of Kinross Gold during the 1st quarter valued at about $29,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the 3rd quarter worth approximately $28,000. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC opened at $23.86 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The company has a market cap of $28.30 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The stock has a 50-day moving average of $25.74 and a 200-day moving average of $30.17. Kinross Gold Corporation has a 52-week low of $15.37 and a 52-week high of $39.11.

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 for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The firm’s revenue was up 60.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. As a group, equities research analysts forecast that Kinross Gold Corporation will post 2.65 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 given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.78%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. UBS Group cut their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $37.31.

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.