Kinross Gold Co. (NYSE:KGC) Position Lowered by PFG Investments LLC

PFG Investments LLC lowered its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 14.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,497 shares of the mining company’s stock after selling 2,957 shares during the period. PFG Investments LLC’s holdings in Kinross Gold were worth $146,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Cetera Advisors LLC increased its stake in shares of Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in Kinross Gold by 1.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after buying an additional 2,204 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Kinross Gold by 3.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after buying an additional 3,070 shares in the last quarter. Oxbow Advisors LLC boosted its holdings in Kinross Gold by 16.9% during the second quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after buying an additional 3,262 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in Kinross Gold by 4.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 81,666 shares of the mining company’s stock worth $494,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on KGC shares. CIBC raised their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. BMO Capital Markets raised their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 21st. Finally, Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Stock Up 0.6 %

Kinross Gold stock opened at $9.84 on Friday. The company has a market capitalization of $12.09 billion, a P/E ratio of 27.33, a P/E/G ratio of 0.56 and a beta of 1.23. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 1-year low of $4.32 and a 1-year high of $10.10. The firm’s fifty day simple moving average is $8.92 and its 200-day simple moving average is $7.59.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Sell-side analysts forecast that Kinross Gold Co. will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is currently 33.33%.

About Kinross Gold

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.