Kinross Gold Corporation $KGC Stock Position Decreased by Ninety One UK Ltd

by · The Cerbat Gem

Ninety One UK Ltd trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 67.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,731,029 shares of the mining company’s stock after selling 3,598,473 shares during the quarter. Ninety One UK Ltd owned approximately 0.14% of Kinross Gold worth $42,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. raised its position in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock valued at $36,000 after acquiring an additional 717 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Kinross Gold during the 3rd quarter worth $44,000. Transce3nd LLC raised its holdings in shares of Kinross Gold by 128.2% during the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares in the last quarter. MAI Capital Management lifted its stake in shares of Kinross Gold by 22.0% in the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after purchasing an additional 907 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.6%

Shares of Kinross Gold stock opened at $28.14 on Thursday. Kinross Gold Corporation has a 1 year low of $9.13 and a 1 year high of $29.90. The company’s fifty day simple moving average is $26.33 and its 200-day simple moving average is $22.08. The company has a market cap of $33.87 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.42 and a beta of 0.74. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last released its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. As a group, sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current 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 given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Raymond James Financial raised their price objective 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. Desjardins initiated coverage on Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research report on Sunday, December 7th. Finally, Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 20th. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $29.81.

View Our Latest Research Report on KGC

Kinross Gold Company Profile

(Free Report)

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.

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