Kinross Gold Corporation $KGC Shares Sold by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. lessened its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 28.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the mining company’s stock after selling 40,241 shares during the quarter. Anthracite Investment Company Inc.’s holdings in Kinross Gold were worth $1,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the period. Cresset Asset Management LLC boosted its holdings in Kinross Gold by 3.0% in the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock worth $438,000 after purchasing an additional 1,013 shares during the period. US Bancorp DE boosted its holdings in Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock worth $865,000 after purchasing an additional 1,103 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Kinross Gold by 12.5% in the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company’s stock worth $142,000 after purchasing an additional 1,250 shares during the period. Finally, Caliber Wealth Management LLC KS boosted its holdings in Kinross Gold by 6.7% in the second quarter. Caliber Wealth Management LLC KS now owns 19,950 shares of the mining company’s stock worth $312,000 after purchasing an additional 1,250 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of KGC opened at $23.95 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The firm’s 50 day moving average is $23.07 and its 200-day moving average is $18.09. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The stock has a market capitalization of $28.97 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.47 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last released its 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 business had revenue of $1.75 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $0.14 EPS. Equities research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s payout ratio is 9.68%.

Analyst Ratings Changes

A number of research firms have commented on KGC. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Raymond James Financial boosted their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. TD Securities boosted their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group boosted their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average price target of $27.56.

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.