Jump Financial LLC Sells 92,867 Shares of Kinross Gold Corporation $KGC

Key Points

• Jump Financial LLC has reduced its stake in Kinross Gold Corporation by 45.4%, selling 92,867 shares, and now holds 111,543 shares valued at approximately $1.4 million.
• Kinross Gold reported an earnings per share (EPS) of $0.44 for the last quarter, exceeding analyst expectations of $0.33, with a revenue increase of 41.7% year-over-year.
• The company announced a $0.03 quarterly dividend, representing an annualized yield of 0.6%, with a payout ratio of 9.68%.

Jump Financial LLC lowered its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 45.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,543 shares of the mining company's stock after selling 92,867 shares during the period. Jump Financial LLC's holdings in Kinross Gold were worth $1,407,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Kinross Gold by 80.5% during the fourth quarter. Northern Trust Corp now owns 1,185,021 shares of the mining company's stock valued at $10,985,000 after purchasing an additional 528,339 shares during the last quarter. Manatuck Hill Partners LLC boosted its position in shares of Kinross Gold by 312.5% during the fourth quarter. Manatuck Hill Partners LLC now owns 158,400 shares of the mining company's stock worth $1,468,000 after purchasing an additional 120,000 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Kinross Gold by 4.5% during the fourth quarter. Bank of America Corp DE now owns 3,884,088 shares of the mining company's stock worth $36,005,000 after purchasing an additional 168,169 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Kinross Gold by 249.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 204,664 shares of the mining company's stock worth $1,897,000 after purchasing an additional 146,064 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Kinross Gold by 13.0% during the fourth quarter. Cetera Investment Advisers now owns 79,680 shares of the mining company's stock worth $739,000 after purchasing an additional 9,194 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KGC has been the topic of several research reports. Canaccord Genuity Group boosted their price objective 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. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Scotiabank boosted their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. UBS Group began coverage on shares of Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $20.07.

Kinross Gold Trading Up 2.1%

KGC stock traded up $0.45 during trading on Tuesday, reaching $21.35. The company had a trading volume of 24,417,885 shares, compared to its average volume of 20,622,676. Kinross Gold Corporation has a 52 week low of $8.31 and a 52 week high of $21.51. The company has a market cap of $25.94 billion, a P/E ratio of 17.14, a PEG ratio of 0.69 and a beta of 0.61. The business has a 50 day moving average of $17.21 and a 200 day moving average of $14.78. 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 announced its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $0.14 EPS. The firm's revenue for the quarter was up 41.7% on a year-over-year basis. As a group, sell-side analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold's payout ratio is 9.68%.

Kinross Gold Company 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.