Janney Montgomery Scott LLC Decreases Holdings in Kinross Gold Corporation $KGC

Key Points

• Janney Montgomery Scott LLC cut its Kinross Gold stake by 57.9% in the first quarter, selling 54,641 shares and leaving it with 39,760 shares valued at about $1.21 million.
• Kinross Gold shares edged down 0.3% to $24.13, with the stock trading below both its 50-day and 200-day moving averages amid a market cap of $28.62 billion.
• The company beat quarterly EPS estimates with $0.71 per share versus $0.68 expected, and it continues to pay a small dividend of $0.04 per share, implying a 0.7% yield.

Janney Montgomery Scott LLC decreased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 57.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,760 shares of the mining company's stock after selling 54,641 shares during the period. Janney Montgomery Scott LLC's holdings in Kinross Gold were worth $1,213,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the third quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd raised its stake in shares of Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock valued at $32,000 after purchasing an additional 589 shares during the period. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold during the fourth quarter worth $36,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Down 0.3%

Kinross Gold stock traded down $0.07 during midday trading on Friday, hitting $24.13. The stock had a trading volume of 7,749,254 shares, compared to its average volume of 8,325,050. The stock has a market cap of $28.62 billion, a P/E ratio of 10.22, a P/E/G ratio of 0.63 and a beta of 0.78. The business has a fifty day moving average price of $27.17 and a 200 day moving average price of $30.55. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $15.10 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the business posted $0.30 EPS. The company's quarterly revenue was up 60.8% on a year-over-year basis. Research analysts predict that Kinross Gold Corporation will post 2.7 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. Kinross Gold's payout ratio is currently 6.78%.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Freedom Capital raised shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. Weiss Ratings lowered shares of Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. UBS Group reduced their price target on Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Finally, ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.81.

Kinross Gold Profile

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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