Ninety One UK Ltd Cuts Stock Holdings in Kinross Gold Corporation (NYSE:KGC)

Ninety One UK Ltd decreased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 6.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,224,755 shares of the mining company's stock after selling 314,921 shares during the quarter. Ninety One UK Ltd owned approximately 0.34% of Kinross Gold worth $53,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KGC. Capital Investment Advisors LLC raised its holdings in shares of Kinross Gold by 3.1% in the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after buying an additional 850 shares during the period. Signaturefd LLC raised its holdings in shares of Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock worth $381,000 after buying an additional 865 shares during the period. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after buying an additional 1,002 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Kinross Gold by 2.4% in the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock worth $423,000 after buying an additional 1,079 shares during the period. Finally, S.A. Mason LLC raised its holdings in shares of Kinross Gold by 6.0% in the first quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock worth $281,000 after buying an additional 1,250 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on KGC. Royal Bank Of Canada increased their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a report on Monday, June 30th. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, BMO Capital Markets started coverage on Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $17.00.

Kinross Gold Stock Up 1.0%

Shares of Kinross Gold stock traded up $0.15 during trading on Wednesday, reaching $15.34. The company's stock had a trading volume of 13,574,662 shares, compared to its average volume of 18,788,358. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.61 and a beta of 0.63. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.10. The company has a 50-day simple moving average of $15.01 and a two-hundred day simple moving average of $12.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm's revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. Kinross Gold's payout ratio is currently 12.24%.

About Kinross Gold

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.