Kinross Gold Corporation $KGC Shares Sold by Te Ahumairangi Investment Management Ltd

Key Points

• Te Ahumairangi Investment Management reduced its stake in Kinross Gold (NYSE:KGC) by 17.2%, selling 34,200 shares and leaving 164,500 shares valued at about $4.084 million per the latest 13F filing.
• Kinross beat quarterly EPS estimates, reporting $0.67 vs. $0.55 expected and revenue of $2.01 billion (up 42.9% YoY), and the company raised its quarterly dividend to $0.04 (annualized $0.16, ~0.5% yield).
• Analyst sentiment is generally positive—MarketBeat shows a consensus "Moderate Buy" with a $39.56 price target, while RBC upgraded to "Outperform" with a $45 target.

Te Ahumairangi Investment Management Ltd decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 17.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,500 shares of the mining company's stock after selling 34,200 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Kinross Gold were worth $4,084,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caitlin John LLC acquired a new position in Kinross Gold during the third quarter worth $26,000. GPS Wealth Strategies Group LLC acquired a new stake in Kinross Gold in the third quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Kinross Gold during the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. boosted its position in shares of Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company's stock worth $36,000 after purchasing an additional 717 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in shares of Kinross Gold during the 3rd quarter worth $40,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

NYSE KGC traded down $1.63 during trading hours on Friday, reaching $30.89. The company's stock had a trading volume of 3,708,712 shares, compared to its average volume of 11,731,308. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The company's 50-day moving average is $33.80 and its two-hundred day moving average is $28.09. Kinross Gold Corporation has a fifty-two week low of $11.12 and a fifty-two week high of $39.11. The stock has a market cap of $37.06 billion, a PE ratio of 15.84, a PEG ratio of 1.59 and a beta of 0.73.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.12. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm's quarterly revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, March 11th. This is an increase from Kinross Gold's previous quarterly dividend of $0.04. Kinross Gold's dividend payout ratio is currently 8.16%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a report on Wednesday, February 4th. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings reiterated a "buy (a)" rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $36.00 to $45.00 in a research note on Thursday. Finally, Wall Street Zen cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.56.

Kinross Gold 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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