Kestra Advisory Services LLC Lowers Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• Kestra Advisory Services LLC has reduced its holdings in Kinross Gold Corporation by 14.2%, selling 51,150 shares, with remaining shares valued at $3.88 million.
• Several institutional investors have increased their stakes in Kinross Gold, with Artemis Investment Management LLP leading the charge by acquiring an additional 5.4 million shares or a 365.8% increase in the first quarter.
• KGC's latest earnings report revealed an EPS of $0.44, significantly beating estimates, along with a revenue of $1.75 billion, representing a 41.7% year-over-year increase.

Kestra Advisory Services LLC reduced its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 14.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,862 shares of the mining company's stock after selling 51,150 shares during the quarter. Kestra Advisory Services LLC's holdings in Kinross Gold were worth $3,882,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Sprott Inc. lifted its holdings in shares of Kinross Gold by 1.7% in the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company's stock valued at $36,976,000 after buying an additional 48,905 shares during the period. Compound Planning Inc. lifted its holdings in shares of Kinross Gold by 33.2% in the 1st quarter. Compound Planning Inc. now owns 31,497 shares of the mining company's stock valued at $397,000 after buying an additional 7,845 shares during the period. Candriam S.C.A. lifted its holdings in shares of Kinross Gold by 238.0% in the 1st quarter. Candriam S.C.A. now owns 66,725 shares of the mining company's stock valued at $841,000 after buying an additional 46,986 shares during the period. Credit Agricole S A lifted its holdings in shares of Kinross Gold by 74.7% in the 1st quarter. Credit Agricole S A now owns 1,048,158 shares of the mining company's stock valued at $13,217,000 after buying an additional 448,216 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in shares of Kinross Gold by 57.8% in the 1st quarter. Hsbc Holdings PLC now owns 3,521,039 shares of the mining company's stock valued at $44,370,000 after buying an additional 1,290,181 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Scotiabank raised their price objective on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, June 24th. CIBC raised their price objective on Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and raised their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kinross Gold has an average rating of "Buy" and a consensus target price of $20.07.

Kinross Gold Price Performance

Kinross Gold stock traded up $0.71 during mid-day trading on Monday, hitting $20.93. 18,160,247 shares of the company were exchanged, compared to its average volume of 17,374,006. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The business's 50 day simple moving average is $17.11 and its two-hundred day simple moving average is $14.71. The company has a market capitalization of $25.44 billion, a P/E ratio of 16.88, a PEG ratio of 0.69 and a beta of 0.61. Kinross Gold Corporation has a 12-month low of $8.31 and a 12-month high of $20.97.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly 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. The company had revenue of $1.75 billion during 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%.Kinross Gold's revenue was up 41.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.6%. Kinross Gold's dividend payout ratio (DPR) is presently 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.