Erste Asset Management GmbH Cuts Stock Position in Kinross Gold Corporation $KGC

Key Points

• Erste Asset Management GmbH significantly reduced its stake in Kinross Gold Corporation by 76.2%, selling 80,000 shares and leaving it with 25,000 shares valued at $315,000.
• Kinross Gold reported $0.44 earnings per share for the last quarter, surpassing analysts' expectations of $0.33, with a revenue of $1.75 billion.
• The company announced a quarterly dividend of $0.03, payable on September 4th, with an annualized yield of 0.6% and a payout ratio of 9.68%.

Erste Asset Management GmbH decreased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 76.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,000 shares of the mining company's stock after selling 80,000 shares during the period. Erste Asset Management GmbH's holdings in Kinross Gold were worth $315,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Kinross Gold during the first quarter worth about $55,000. Farther Finance Advisors LLC lifted 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 worth $71,000 after buying an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new position in Kinross Gold in the 1st quarter valued at approximately $77,000. Bruce G. Allen Investments LLC grew its stake in shares of Kinross Gold by 68.6% in the first 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 in the last quarter. Finally, SBI Securities Co. Ltd. grew its stake in shares of Kinross Gold by 39.3% in the first 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 in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 0.4%

KGC opened at $19.5840 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $19.81. The company has a market cap of $23.80 billion, a P/E ratio of 15.79, a PEG ratio of 0.65 and a beta of 0.55. The business's 50-day simple moving average is $16.63 and its 200-day simple moving average is $14.38.

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

Kinross Gold Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. CIBC increased their price target on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. Royal Bank Of Canada upped their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Company Profile

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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