Kinross Gold Corporation $KGC Shares Sold by Leuthold Group LLC

Key Points

• Leuthold Group LLC cut its Kinross Gold stake by 21.9% in the fourth quarter, selling 133,640 shares and leaving it with 476,291 shares worth about $13.4 million.
• Institutional interest remains high overall, with hedge funds and other investors owning 63.69% of Kinross Gold’s stock despite some recent portfolio adjustments.
• Analyst sentiment is still broadly positive: the stock has a Moderate Buy consensus rating and a consensus price target of $38.81, even though shares recently traded down 8.1% to $28.40.

Leuthold Group LLC decreased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 21.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 476,291 shares of the mining company's stock after selling 133,640 shares during the period. Kinross Gold makes up 1.4% of Leuthold Group LLC's portfolio, making the stock its 8th largest position. Leuthold Group LLC's holdings in Kinross Gold were worth $13,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Turning Point Benefit Group Inc. boosted its position in shares of Kinross Gold by 6.6% during the 4th quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company's stock worth $178,000 after acquiring an additional 393 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Kinross Gold by 32.9% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company's stock worth $55,000 after acquiring an additional 483 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of Kinross Gold by 2.1% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock worth $629,000 after acquiring an additional 521 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Kinross Gold by 1.8% during the 3rd quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company's stock worth $799,000 after acquiring an additional 565 shares in the last quarter. Finally, Cadence Wealth Management LLC boosted its position in shares of Kinross Gold by 1.3% during the 3rd quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company's stock worth $1,149,000 after acquiring an additional 581 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a research report on Wednesday, February 4th. UBS Group lowered their target price on Kinross Gold from $43.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, TD Securities lowered their target price on Kinross Gold from $43.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.81.

Kinross Gold Trading Down 8.1%

Shares of KGC stock opened at $28.40 on Friday. The firm has a market capitalization of $33.87 billion, a P/E ratio of 12.03, a P/E/G ratio of 1.02 and a beta of 0.73. Kinross Gold Corporation has a twelve month low of $13.34 and a twelve month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. The stock's fifty day simple moving average is $31.23 and its 200 day simple moving average is $30.44.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.Kinross Gold's quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, sell-side analysts predict that Kinross Gold Corporation will post 2.92 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's payout ratio is currently 6.78%.

Key Stories Impacting Kinross Gold

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

• Positive Sentiment: Analysts are raising earnings estimates across several future periods, reflecting better profit expectations for Kinross Gold. Article Title
• Positive Sentiment: Strong cash flow, project growth, and a solid balance sheet may help cushion the stock during periods of softer gold prices. Article Title
• Neutral Sentiment: Zacks Research maintained a Hold rating while lifting forecasts, which supports the outlook but does not amount to a bullish upgrade.
• Neutral Sentiment: The stock’s long-term performance has been very strong, but recent volatility has made valuation and timing questions more important for investors. Article Title
• Negative Sentiment: Weakness in gold prices and a break below the 50-day SMA are weighing on near-term trading sentiment for Kinross Gold.

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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