Kinross Gold Corporation $KGC Shares Sold by U S Global Investors Inc.

Key Points

• U S Global Investors cut its stake in Kinross Gold by 76% in Q4, selling 317,334 shares and leaving it with 100,000 shares valued at about $2.82 million.
• Kinross beat quarterly EPS estimates with $0.67 (vs. $0.55) and reported revenue up 42.9% year-over-year to $2.01 billion, while analysts project about $2.77 EPS for the fiscal year.
• Wall Street sentiment is broadly positive — the consensus is a "Moderate Buy" with an average price target of $38.81, versus the recent share price near $32.09 and a 12-month high of $39.11.

U S Global Investors Inc. lessened its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 76.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the mining company's stock after selling 317,334 shares during the period. U S Global Investors Inc.'s holdings in Kinross Gold were worth $2,816,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Kinross Gold in the 4th quarter valued at approximately $422,000. Legacy Capital Group California Inc. purchased a new stake in Kinross Gold in the 4th quarter valued at approximately $467,000. HB Wealth Management LLC purchased a new stake in Kinross Gold in the 4th quarter valued at approximately $273,000. Caprock Group LLC boosted its holdings in Kinross Gold by 2.2% in the 4th quarter. Caprock Group LLC now owns 139,857 shares of the mining company's stock valued at $3,938,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in Kinross Gold in the 4th quarter valued at approximately $655,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on KGC shares. UBS Group lowered their price objective on Kinross Gold from $43.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, March 27th. Royal Bank Of Canada raised Kinross Gold from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Zacks Research lowered Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Friday, January 23rd. TD Securities lowered their price objective on Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Finally, Scotiabank lifted their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $38.81.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $32.09 on Friday. The business's 50 day simple moving average is $32.40 and its 200-day simple moving average is $29.84. The firm has a market capitalization of $38.31 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. Kinross Gold Corporation has a 12 month low of $13.28 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company's quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. As a group, equities analysts forecast that Kinross Gold Corporation will post 2.77 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were paid a dividend of $0.04 per share. This is a positive change from Kinross Gold's previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is presently 8.16%.

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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