Hsbc Holdings PLC Lowers Holdings in Kinross Gold Corporation $KGC

Hsbc Holdings PLC trimmed its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 49.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,417 shares of the mining company's stock after selling 37,247 shares during the quarter. Hsbc Holdings PLC's holdings in Kinross Gold were worth $905,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Boston Partners increased its position in shares of Kinross Gold by 1.6% during the third quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock valued at $1,133,463,000 after acquiring an additional 707,498 shares in the last quarter. FIL Ltd increased its position in shares of Kinross Gold by 4.8% during the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company's stock valued at $820,969,000 after purchasing an additional 1,326,833 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Kinross Gold by 2.3% during the first quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock valued at $779,677,000 after buying an additional 571,100 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold in the 4th quarter worth $518,656,000. Finally, Man Group plc raised its stake in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company's stock worth $261,646,000 after buying an additional 5,411,491 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $29.11 on Monday. The stock has a 50 day moving average of $26.96 and a 200 day moving average of $28.82. Kinross Gold Corporation has a 12 month low of $21.94 and a 12 month high of $39.11. The firm has a market cap of $34.49 billion, a PE ratio of 11.03, a PEG ratio of 0.79 and a beta of 0.84. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. On average, research analysts expect that Kinross Gold Corporation will post 2.61 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 20th. Kinross Gold's payout ratio is currently 6.06%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 28th. Scotiabank decreased their price target on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a report on Tuesday, July 14th. Royal Bank Of Canada lowered their price objective on Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Wall Street Zen lowered Kinross Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Zacks Research upgraded Kinross Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.43.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company's operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.

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