Kinross Gold Corporation $KGC Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Kinross Gold position by 4.5% in the first quarter, selling 458,059 shares and retaining approximately 9.72 million shares valued at $296.5 million. Institutional investors collectively own 63.69% of the company.
• Kinross reported strong second-quarter results, with adjusted EPS of $0.71 versus the $0.66 consensus and revenue up 29.5% year over year to $2.22 billion. Free cash flow exceeded $725 million, supporting more than $600 million in shareholder returns year to date.
• The company declared a quarterly dividend of $0.04 per share, while analysts maintain a “Moderate Buy” consensus and a $37.31 price target. However, Lobo-Marte’s development costs have risen 67%, and the stock remains below its 50-day and 200-day moving averages.

Bank of America Corp DE cut its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 4.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,716,050 shares of the mining company's stock after selling 458,059 shares during the quarter. Bank of America Corp DE owned approximately 0.81% of Kinross Gold worth $296,534,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Kinross Gold by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 50,887,386 shares of the mining company's stock valued at $1,433,345,000 after purchasing an additional 148,845 shares during the period. Boston Partners boosted its stake in Kinross Gold by 1.6% in the 3rd quarter. Boston Partners now owns 45,120,345 shares of the mining company's stock worth $1,133,463,000 after buying an additional 707,498 shares during the last quarter. FIL Ltd grew its holdings in Kinross Gold by 4.8% in the 4th quarter. FIL Ltd now owns 29,146,959 shares of the mining company's stock valued at $820,969,000 after buying an additional 1,326,833 shares during the period. Renaissance Technologies LLC grew its holdings in Kinross Gold by 2.3% in the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock valued at $779,677,000 after buying an additional 571,100 shares during the period. Finally, Norges Bank acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $518,656,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold News Summary

Here are the key news stories impacting Kinross Gold this week:

• Positive Sentiment: Kinross reported second-quarter adjusted earnings of $0.71 per share, ahead of the $0.66 analyst consensus and up from $0.44 a year earlier. Revenue rose 29.5% year over year to $2.22 billion, while production reached 492,000 gold-equivalent ounces. Kinross Gold Q2 Earnings Surpass Estimates
• Positive Sentiment: Free cash flow exceeded $725 million in the quarter, supported by disciplined cost management and strong margins. Kinross said it returned about 40% of free cash flow to shareholders, totaling more than $600 million year to date, while maintaining its full-year outlook. Kinross Reports Strong 2026 Second-Quarter Results
• Positive Sentiment: The board declared a quarterly dividend of $0.04 per share, payable September 3 to shareholders of record August 20. The payout reinforces Kinross’ shareholder-return program, although the indicated yield is relatively modest at approximately 0.7%. Kinross Declares Quarterly Dividend
• Neutral Sentiment: Lobo-Marte remains a potentially significant growth project, with expected average annual production of roughly 350,000 ounces, estimated all-in sustaining costs near $1,000 per ounce and a projected net present value of $4.3 billion. Permitting and engineering are reportedly progressing as planned. Kinross Provides Update on Lobo-Marte Project
• Negative Sentiment: Investors may be concerned that Lobo-Marte’s projected development cost has increased 67%. Although the project’s net present value has more than tripled, the higher capital requirement raises execution, financing and cost-overrun risks. Kinross Gold’s Lobo-Marte Cost Jumps 67%
• Negative Sentiment: Quarterly revenue was slightly below the $2.24 billion consensus estimate. The stock also remains below its 50-day and 200-day moving averages, indicating that near-term sentiment is cautious even after the earnings beat.

Kinross Gold Stock Down 0.1%

Shares of NYSE:KGC opened at $23.08 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a 1 year low of $15.78 and a 1 year high of $39.11. The stock has a market capitalization of $27.38 billion, a P/E ratio of 8.74, a PEG ratio of 0.63 and a beta of 0.78. The stock has a 50-day simple moving average of $25.26 and a 200-day simple moving average of $29.91.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The company's revenue was up 29.5% on a year-over-year basis. Equities analysts forecast that Kinross Gold Corporation will post 2.62 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 20th. Kinross Gold's payout ratio is currently 6.06%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KGC. UBS Group cut their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Scotiabank lowered their target price on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. ATB Cormark Capital Markets raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a research report on Friday. Jefferies Financial Group cut their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Finally, Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.31.

Kinross Gold Company 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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