U S Global Investors Inc. Sells 17,614 Shares of Kinross Gold Corporation (NYSE:KGC)

U S Global Investors Inc. lessened its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 477,042 shares of the mining company's stock after selling 17,614 shares during the period. Kinross Gold makes up 0.8% of U S Global Investors Inc.'s portfolio, making the stock its 27th biggest position. U S Global Investors Inc.'s holdings in Kinross Gold were worth $6,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Kinross Gold by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock valued at $439,881,000 after purchasing an additional 763,248 shares during the period. Renaissance Technologies LLC boosted its stake in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after buying an additional 3,224,455 shares in the last quarter. Norges Bank bought a new stake in Kinross Gold in the fourth quarter valued at $280,697,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock valued at $136,028,000 after acquiring an additional 1,398,225 shares during the period. Finally, Mackenzie Financial Corp raised its stake in Kinross Gold by 21.2% during the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock worth $129,435,000 after acquiring an additional 2,438,445 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KGC shares. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Royal Bank Of Canada boosted their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Finally, 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 note on Monday. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $17.00.

Kinross Gold Price Performance

NYSE KGC traded down $0.10 on Tuesday, hitting $15.53. 13,887,457 shares of the company were exchanged, compared to its average volume of 18,761,037. Kinross Gold Corporation has a 1-year low of $7.84 and a 1-year high of $16.04. The firm has a 50 day moving average of $14.88 and a two-hundred day moving average of $12.58. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a market cap of $19.05 billion, a P/E ratio of 15.85, a P/E/G ratio of 0.61 and a beta of 0.63.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. Kinross Gold's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th were given a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. Kinross Gold's payout ratio is 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.