Integrated Wealth Concepts LLC Lowers Position in Kinross Gold Corporation $KGC

Key Points

• Integrated Wealth Concepts LLC reduced its holdings in Kinross Gold Corporation by 8.9%, now owning 195,999 shares valued at approximately $2.47 million.
• Several hedge funds adjusted their positions, including K2 Principal Fund L.P. purchasing a new stake worth around $416,000 and Edmond DE Rothschild Holding S.A. increasing its holding by 21.9%.
• Kinross Gold's stock recently saw price target upgrades from various analysts, with CIBC raising it from $21.00 to $22.00 and UBS issuing a "buy" rating with a $20.00 target price.

Integrated Wealth Concepts LLC cut its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 8.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,999 shares of the mining company's stock after selling 19,216 shares during the period. Integrated Wealth Concepts LLC's holdings in Kinross Gold were worth $2,472,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of Kinross Gold in the first quarter valued at approximately $55,000. Farther Finance Advisors LLC grew its holdings in shares of Kinross Gold by 188.6% in the first 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of Kinross Gold in the first quarter valued at approximately $77,000. Bruce G. Allen Investments LLC grew its holdings 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 valued at $79,000 after acquiring an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings 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 valued at $80,000 after acquiring an additional 1,787 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KGC. UBS Group started coverage on Kinross Gold in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 target price for the company. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a report on Monday, June 30th. Royal Bank Of Canada increased their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. CIBC increased their price objective on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Finally, Canaccord Genuity Group increased their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of "Moderate Buy" and an average price target of $20.07.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.03 during trading on Friday, hitting $23.29. 11,872,373 shares of the company were exchanged, compared to its average volume of 15,600,618. The company has a market cap of $28.30 billion, a PE ratio of 18.78, a P/E/G ratio of 0.77 and a beta of 0.61. The stock has a 50 day moving average of $18.44 and a 200 day moving average of $15.49. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $23.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

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 (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business's quarterly revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 earnings per share. As a group, equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is currently 9.68%.

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.