Cinctive Capital Management LP Sells 132,314 Shares of Kinross Gold Corporation $KGC

Key Points

• Cinctive Capital Management LP reduced its holdings in Kinross Gold Corporation by 56.4%, selling 132,314 shares and retaining 102,357 shares worth approximately $1.29 million.
• Kinross Gold reported earnings of $0.44 per share for the last quarter, exceeding estimates, while revenue increased by 41.7% year-over-year to $1.75 billion.
• The company announced a quarterly dividend of $0.03 per share, resulting in a 0.6% yield, with a payout ratio of 9.68%.

Cinctive Capital Management LP cut its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 56.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,357 shares of the mining company's stock after selling 132,314 shares during the period. Cinctive Capital Management LP's holdings in Kinross Gold were worth $1,291,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in Kinross Gold during the 1st quarter worth approximately $55,000. Farther Finance Advisors LLC grew its position in Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares during the last quarter. Headlands Technologies LLC bought a new stake in Kinross Gold during the 1st quarter worth approximately $77,000. Bruce G. Allen Investments LLC grew its position in Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after acquiring an additional 2,561 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after acquiring an additional 1,787 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 1.4%

Shares of KGC opened at $21.52 on Friday. The firm has a market capitalization of $26.15 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 0.72 and a beta of 0.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The business's fifty day moving average price is $17.58 and its two-hundred day moving average price is $14.94. Kinross Gold Corporation has a 52 week low of $8.31 and a 52 week high of $22.03.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.52 billion. During the same period last year, the company earned $0.14 EPS. The firm's revenue was up 41.7% on a year-over-year basis. On average, analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is currently 9.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KGC. Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. Scotiabank increased their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $20.07.

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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