Federation des caisses Desjardins du Quebec Sells 115,760 Shares of Kinross Gold Corporation $KGC

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its stake in Kinross Gold Corporation by 5.6%, now owning approximately 0.16% of the company valued at $24.57 million after selling 115,760 shares in the 1st quarter.
• Kinross Gold Corporation has reported a strong quarterly earnings result, with an EPS of $0.44, exceeding analysts' expectations of $0.33, and revenues of $1.75 billion, a 41.7% increase year-over-year.
• The company recently announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.6%, with a low dividend payout ratio of 9.68%.

Federation des caisses Desjardins du Quebec cut its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,951,456 shares of the mining company's stock after selling 115,760 shares during the period. Federation des caisses Desjardins du Quebec owned approximately 0.16% of Kinross Gold worth $24,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Investment Advisors LLC grew its position in shares of Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after purchasing an additional 850 shares in the last quarter. Cresset Asset Management LLC increased its holdings in shares of Kinross Gold by 3.0% in the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock worth $438,000 after buying an additional 1,013 shares during the last quarter. S.A. Mason LLC boosted its stake in shares of Kinross Gold by 6.0% during the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock valued at $281,000 after purchasing an additional 1,250 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Kinross Gold by 12.5% in the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock worth $142,000 after buying an additional 1,250 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its holdings in Kinross Gold by 6.4% in the 1st quarter. Cigna Investments Inc. New now owns 23,096 shares of the mining company's stock valued at $291,000 after purchasing an additional 1,386 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Up 3.0%

Kinross Gold stock traded up $0.64 during midday trading on Friday, hitting $22.13. 17,600,836 shares of the stock were exchanged, compared to its average volume of 16,640,965. The stock has a market capitalization of $26.89 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.73 and a beta of 0.62. 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 52-week low of $8.31 and a 52-week high of $22.22. The business's 50-day moving average price is $17.72 and its 200-day moving average price is $15.04.

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, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company's quarterly revenue was up 41.7% compared to the same quarter last year. On average, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analyst Weigh In

A number of research firms have commented on KGC. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Canaccord Genuity Group raised their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research note on Thursday, August 7th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their price target for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group assumed coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price target on the stock in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Kinross Gold 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.