Kinross Gold Corporation $KGC Shares Sold by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management LLC reduced its stake in Kinross Gold Corporation by 15.5%, now holding 932,379 shares valued at approximately $14.6 million.
• Kinross Gold has seen significant purchase activity from other investors, including LGT Fund Management and Union Bancaire Privee UBP SA, indicating strong institutional interest.
• Analysts maintain a Buy consensus rating for Kinross Gold, with price targets ranging from $15.00 to $29.50, reflecting optimistic growth expectations.

Euro Pacific Asset Management LLC lowered its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 15.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 932,379 shares of the mining company's stock after selling 170,854 shares during the period. Kinross Gold accounts for approximately 2.4% of Euro Pacific Asset Management LLC's portfolio, making the stock its 14th largest position. Euro Pacific Asset Management LLC owned 0.08% of Kinross Gold worth $14,576,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. LGT Fund Management Co Ltd. lifted its holdings in Kinross Gold by 28.4% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 194,900 shares of the mining company's stock worth $3,045,000 after buying an additional 43,100 shares during the last quarter. Ascent Group LLC raised its position in shares of Kinross Gold by 17.6% during the 2nd quarter. Ascent Group LLC now owns 25,655 shares of the mining company's stock worth $401,000 after acquiring an additional 3,834 shares in the last quarter. Ninety One UK Ltd lifted its stake in Kinross Gold by 26.1% during the second quarter. Ninety One UK Ltd now owns 5,329,502 shares of the mining company's stock worth $83,164,000 after purchasing an additional 1,104,747 shares during the last quarter. Truist Financial Corp boosted its holdings in Kinross Gold by 9.0% in the second quarter. Truist Financial Corp now owns 302,645 shares of the mining company's stock valued at $4,730,000 after purchasing an additional 25,093 shares in the last quarter. Finally, Union Bancaire Privee UBP SA boosted its holdings in Kinross Gold by 344.4% in the second quarter. Union Bancaire Privee UBP SA now owns 952,523 shares of the mining company's stock valued at $13,738,000 after purchasing an additional 738,173 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of research analyst reports. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. UBS Group lifted their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, September 19th. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research report on Monday, June 30th. CIBC upped their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Finally, Canaccord Genuity Group raised their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Three 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. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $21.07.

Kinross Gold Stock Up 0.3%

KGC opened at $25.03 on Monday. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $25.78. The business has a 50 day moving average price of $20.91 and a two-hundred day moving average price of $16.80. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market cap of $30.34 billion, a PE ratio of 20.18, a P/E/G ratio of 0.80 and a beta of 0.64.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company's revenue for the quarter was up 41.7% compared to the same quarter last year. As a group, research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.