Ninety One North America Inc. Sells 100,920 Shares of Kinross Gold Corporation $KGC

Key Points

• Ninety One North America Inc. trimmed its stake in Kinross Gold by 18.6% in Q4, selling 100,920 shares and retaining 440,414 shares worth about $12.42 million.
• Kinross beat Q4 EPS estimates with $0.67 (vs. $0.55 est.) and saw revenue rise 42.9% YoY to $2.01 billion; the company also raised its quarterly dividend to $0.04 (annualized $0.16, ~0.5% yield), while analysts hold a consensus rating of "Moderate Buy" with an average target near $38.81.

Ninety One North America Inc. trimmed its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440,414 shares of the mining company's stock after selling 100,920 shares during the quarter. Ninety One North America Inc.'s holdings in Kinross Gold were worth $12,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. grew its stake in Kinross Gold by 32.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,950 shares of the mining company's stock valued at $55,000 after purchasing an additional 483 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its stake in Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company's stock valued at $629,000 after purchasing an additional 521 shares in the last quarter. Ballentine Partners LLC grew its stake in Kinross Gold by 1.8% in the third quarter. Ballentine Partners LLC now owns 32,144 shares of the mining company's stock valued at $799,000 after purchasing an additional 565 shares in the last quarter. Cadence Wealth Management LLC grew its stake in Kinross Gold by 1.3% in the third quarter. Cadence Wealth Management LLC now owns 46,233 shares of the mining company's stock valued at $1,149,000 after purchasing an additional 581 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in Kinross Gold by 7.0% in the third quarter. Parallel Advisors LLC now owns 9,018 shares of the mining company's stock valued at $224,000 after purchasing an additional 587 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $34.94 on Friday. The business's 50 day moving average price is $32.49 and its two-hundred day moving average price is $29.62. The company has a market cap of $41.72 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.65 and a beta of 0.82. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $13.28 and a twelve 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.12. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The business's revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. On average, analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. This is a boost from Kinross Gold's previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Wednesday, March 11th. Kinross Gold's dividend payout ratio (DPR) is presently 8.16%.

Analyst Ratings Changes

A number of research firms have weighed in on KGC. UBS Group decreased their price target 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. TD Securities lowered their price target on Kinross Gold from $43.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 14th. Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 23rd. Finally, 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 report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and an average price target of $38.81.

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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