Kinross Gold Corporation (NYSE:KGC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 63.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 617,730 shares of the mining company's stock after selling 1,088,907 shares during the quarter. Envestnet Asset Management Inc. owned 0.05% of Kinross Gold worth $7,790,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC increased its position in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after purchasing an additional 1,002 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings 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 valued at $71,000 after acquiring an additional 3,659 shares during the period. Bruce G. Allen Investments LLC boosted its holdings 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 valued at $79,000 after acquiring an additional 2,561 shares during the period. Helium Advisors LLC purchased a new position in Kinross Gold during the 4th quarter valued at $97,000. Finally, Blue Trust Inc. boosted its holdings in Kinross Gold by 37.0% during the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after acquiring an additional 2,110 shares during the period. Institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KGC shares. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.00 to $18.00 in a report on Thursday, June 26th. BMO Capital Markets initiated coverage on Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC upped their target price on Kinross Gold from $16.00 to $21.00 and gave the stock an "outperformer" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a report on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $18.00.

Kinross Gold Stock Up 1.7%

Shares of KGC stock traded up $0.28 during mid-day trading on Friday, hitting $16.12. The stock had a trading volume of 20,675,904 shares, compared to its average volume of 20,990,801. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The firm has a market capitalization of $19.77 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63. Kinross Gold Corporation has a 12-month low of $7.84 and a 12-month high of $16.52. The firm's 50-day moving average is $15.31 and its two-hundred day moving average is $13.31.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the business posted $0.10 EPS. The firm's quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, May 29th. Kinross Gold's dividend payout ratio is currently 12.24%.

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.