BXM Wealth LLC Has $195,000 Stock Position in Kinross Gold Corporation $KGC

Key Points

• BXM Wealth LLC reduced its stake in Kinross Gold Corporation by 47.6% during the second quarter, now holding shares worth $195,000.
• Kinross Gold reported $1.75 billion in revenue for the recent quarter, exceeding expectations, and achieved a net margin of 25.18%.
• The company declared a quarterly dividend of $0.03 per share, indicating a 0.4% yield based on its annualized payout.

BXM Wealth LLC trimmed its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 47.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,450 shares of the mining company's stock after selling 11,300 shares during the period. BXM Wealth LLC's holdings in Kinross Gold were worth $195,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of KGC. Vanguard Group Inc. boosted its stake in shares of Kinross Gold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock valued at $603,829,000 after purchasing an additional 561,563 shares during the last quarter. Boston Partners lifted its stake in Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock valued at $632,797,000 after buying an additional 12,705,061 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kinross Gold by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company's stock valued at $126,378,000 after acquiring an additional 603,388 shares during the period. Allianz Asset Management GmbH raised its stake in Kinross Gold by 15.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 8,048,760 shares of the mining company's stock worth $125,409,000 after buying an additional 1,101,704 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock worth $87,639,000 after purchasing an additional 3,398,687 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Up 2.5%

Kinross Gold stock opened at $27.58 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The firm's fifty day moving average is $22.46 and its 200 day moving average is $17.56. The company has a market capitalization of $33.44 billion, a PE ratio of 22.24, a PEG ratio of 0.86 and a beta of 0.64.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, August 21st. Kinross Gold's payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on KGC shares. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Canaccord Genuity Group boosted their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Raymond James Financial boosted their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, UBS Group upped their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $25.69.

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.

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