Plato Investment Management Ltd Sells 84,999 Shares of Kinross Gold Corporation $KGC

Key Points

• Plato Investment Management Ltd reduced its holdings in Kinross Gold Corporation by 28.8%, selling 84,999 shares in the first quarter, leaving them with 210,351 shares worth $2.68 million.
• Kinross Gold reported earnings of $0.44 per share for the most recent quarter, exceeding estimates, with a revenue increase of 41.7% year-over-year.
• The company has announced a quarterly dividend of $0.03, resulting in a 0.5% dividend yield, and has an average price target from analysts of approximately $20.07.

Plato Investment Management Ltd lowered its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 28.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 210,351 shares of the mining company's stock after selling 84,999 shares during the period. Plato Investment Management Ltd's holdings in Kinross Gold were worth $2,679,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KGC. Banque Cantonale Vaudoise bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $55,000. Farther Finance Advisors LLC lifted 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 valued at $71,000 after acquiring an additional 3,659 shares during the period. Headlands Technologies LLC acquired a new position in shares of Kinross Gold during the 1st quarter valued at $77,000. Bruce G. Allen Investments LLC boosted its stake in Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after acquiring an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in Kinross Gold by 39.3% in the first 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 during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.7%

KGC stock opened at $22.37 on Wednesday. The firm has a market capitalization of $27.19 billion, a PE ratio of 18.04, a P/E/G ratio of 0.75 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.55 and a twelve month high of $22.85. The stock's 50 day moving average is $18.00 and its 200-day moving average is $15.20.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Kinross Gold's revenue was up 41.7% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is currently 9.68%.

Analysts Set New Price Targets

KGC has been the subject of several research analyst reports. CIBC lifted their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and boosted their target price for the company from $14.00 to $18.00 in a research report on Thursday, June 26th. UBS Group started coverage on Kinross Gold in a report on Monday, August 4th. They issued a "buy" rating and a $20.00 price target on the stock. Zacks Research cut Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $20.07.

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.

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