U S Global Investors Inc. Decreases Stock Holdings in Kinross Gold Corporation $KGC

Key Points

• U S Global Investors Inc. significantly reduced its holdings in Kinross Gold Corporation by 45.5% during Q2, now owning 260,000 shares valued at approximately $4.06 million.
• Kinross Gold announced a quarterly dividend of $0.03, with a current annualized dividend yield of 0.5% and a payout ratio of 9.68%.
• The mining company reported Q2 earnings of $0.44 per share, exceeding analysts' expectations and achieving a year-over-year revenue increase of 41.7% to $1.75 billion.

U S Global Investors Inc. decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 45.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 260,000 shares of the mining company's stock after selling 217,042 shares during the quarter. U S Global Investors Inc.'s holdings in Kinross Gold were worth $4,064,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in Kinross Gold during the first quarter valued at $55,000. IFP Advisors Inc raised its stake in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Kinross Gold during the first quarter valued at $77,000. Finally, SBI Securities Co. Ltd. raised its stake in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock valued at $80,000 after purchasing an additional 1,787 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Down 0.2%

NYSE KGC opened at $24.24 on Friday. The company's 50-day moving average price is $21.81 and its 200-day moving average price is $17.17. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The stock has a market cap of $29.38 billion, a PE ratio of 19.54, a PEG ratio of 0.78 and a beta of 0.64. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $25.91.

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

Kinross Gold Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is presently 9.68%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KGC. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Wall Street Zen raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. UBS Group increased their target price on shares of Kinross Gold from $20.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, September 19th. CIBC increased their target price on shares of Kinross Gold from $22.00 to $36.00 and gave the company an "outperformer" rating in a research note on Friday. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Kinross Gold in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $25.19.

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.

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