Kinross Gold Corporation $KGC Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. reduced its stake in Kinross Gold Corporation (NYSE: KGC) by 36.1%, now holding 471,949 shares valued at approximately $5.95 million.
• Kinross Gold had strong quarterly earnings, reporting a profit of $0.44 per share, surpassing analysts' expectations, with revenues of $1.75 billion—up 41.7% year-over-year.
• The company announced a quarterly dividend of $0.03 per share, with a dividend yield of 0.5%, highlighting its continued commitment to returning value to shareholders.

Raymond James Financial Inc. trimmed its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 36.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 471,949 shares of the mining company's stock after selling 266,135 shares during the quarter. Raymond James Financial Inc.'s holdings in Kinross Gold were worth $5,951,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KGC. Boston Partners raised its position in Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company's stock worth $632,797,000 after buying an additional 12,705,061 shares during the last quarter. Man Group plc increased its stake in shares of Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after acquiring an additional 5,871,904 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Kinross Gold by 365.8% during the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock worth $86,718,000 after purchasing an additional 5,400,447 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in Kinross Gold during the first quarter valued at $33,877,000. Finally, Merewether Investment Management LP acquired a new position in Kinross Gold during the fourth quarter valued at $23,765,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Performance

KGC opened at $21.84 on Thursday. The firm's fifty day simple moving average is $17.46 and its two-hundred day simple moving average is $14.87. Kinross Gold Corporation has a 52-week low of $8.31 and a 52-week high of $21.97. The company has a market cap of $26.54 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.69 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

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 firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. Equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is presently 9.68%.

Analyst Ratings Changes

Several equities research analysts have weighed in on KGC shares. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Monday. Scotiabank raised their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada lifted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group began coverage on Kinross Gold in a research report on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their target price for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of "Moderate Buy" and a consensus target price of $20.07.

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.

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