LPL Financial LLC Has $3.09 Million Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• LPL Financial LLC reduced its holdings in Kinross Gold Corporation by 36.1%, now owning 245,307 shares valued at approximately $3.09 million.
• Kinross Gold reported earnings of $0.44 per share, surpassing estimates of $0.33, with quarterly revenue rising by 41.7% year-over-year to $1.75 billion.
• The company announced a quarterly dividend of $0.03 per share, translating to an annualized yield of 0.6%.

LPL Financial LLC lowered its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 36.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,307 shares of the mining company's stock after selling 138,451 shares during the quarter. LPL Financial LLC's holdings in Kinross Gold were worth $3,093,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Kinross Gold by 188.6% during the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Kinross Gold by 68.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares in the last quarter. Blue Trust Inc. increased its position in shares of Kinross Gold by 37.0% during the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock worth $98,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Helium Advisors LLC acquired a new stake in shares of Kinross Gold during the 4th quarter worth about $97,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of a number of recent analyst reports. Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a research report on Monday, June 30th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. CIBC increased their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and increased their price objective for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $20.07.

Kinross Gold Trading Up 2.3%

Shares of NYSE KGC traded up $0.4320 during mid-day trading on Thursday, hitting $19.5120. The company's stock had a trading volume of 15,910,512 shares, compared to its average volume of 19,800,500. The stock has a market cap of $23.71 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a one year low of $8.31 and a one year high of $19.55. The company's fifty day simple moving average is $16.56 and its 200-day simple moving average is $14.33.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.14 EPS. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is 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.