Te Ahumairangi Investment Management Ltd Cuts Position in Kinross Gold Corporation $KGC

by · The Cerbat Gem

Te Ahumairangi Investment Management Ltd lessened its holdings in Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,300 shares of the mining company’s stock after selling 43,500 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Kinross Gold were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC increased its stake in shares of Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Kinross Gold in the 1st quarter valued at about $77,000. Bruce G. Allen Investments LLC increased its stake in shares of Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after purchasing an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in shares of Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after purchasing an additional 1,787 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the subject of several recent analyst reports. UBS Group initiated coverage on Kinross Gold in a research note on Monday, August 4th. They issued a “buy” rating and a $20.00 price target for the company. Jefferies Financial Group upgraded Kinross Gold from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC boosted their price objective on Kinross Gold from $21.00 to $22.00 and gave the stock an “outperformer” rating in a research note on Friday, August 1st. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. Finally, Scotiabank boosted their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $20.07.

View Our Latest Analysis on Kinross Gold

Kinross Gold Price Performance

NYSE:KGC opened at $20.24 on Friday. Kinross Gold Corporation has a 12 month low of $8.31 and a 12 month high of $20.40. The stock has a 50 day moving average of $17.00 and a two-hundred day moving average of $14.61. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The firm has a market cap of $24.59 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.67 and a beta of 0.55.

Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last posted its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.Kinross Gold’s quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold’s payout ratio is currently 9.68%.

Kinross Gold Company Profile

(Free Report)

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.

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