Kinross Gold Corporation $KGC Shares Sold by Integrated Wealth Concepts LLC

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 lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 8.9% in the first quarter, according to 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in Kinross Gold during the first quarter worth about $55,000. Farther Finance Advisors LLC boosted its holdings in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of 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 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after buying an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after buying an additional 1,787 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Up 0.1%

KGC traded up $0.03 during trading hours on Friday, hitting $23.29. 11,871,569 shares of the company's stock were exchanged, compared to its average volume of 20,462,293. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $23.65. The firm has a 50 day moving average of $18.30 and a 200 day moving average of $15.34. The firm has a market cap of $28.30 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 0.76 and a beta of 0.62. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced 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. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the firm earned $0.14 EPS. The firm's revenue for the quarter was up 41.7% on a year-over-year basis. Analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Ratings Changes

KGC has been the topic of several analyst reports. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. UBS Group initiated coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price target on the stock. Zacks Research lowered shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. CIBC lifted their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Finally, Canaccord Genuity Group lifted their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average 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.