Denali Advisors LLC Sells 23,873 Shares of Kinross Gold Corporation $KGC

Denali Advisors LLC reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 15.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 128,106 shares of the mining company’s stock after selling 23,873 shares during the quarter. Denali Advisors LLC’s holdings in Kinross Gold were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Generali Asset Management SPA SGR boosted its holdings in shares of Kinross Gold by 20.9% during the 4th quarter. Generali Asset Management SPA SGR now owns 64,638 shares of the mining company’s stock worth $1,820,000 after buying an additional 11,173 shares during the period. MGO One Seven LLC boosted its holdings in shares of Kinross Gold by 397.2% during the 4th quarter. MGO One Seven LLC now owns 40,829 shares of the mining company’s stock worth $1,150,000 after buying an additional 32,617 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Kinross Gold by 10.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 59,809 shares of the mining company’s stock valued at $1,684,000 after purchasing an additional 5,582 shares during the period. PKO Investment Management Joint Stock Co boosted its holdings in Kinross Gold by 7.3% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 482,806 shares of the mining company’s stock valued at $13,624,000 after purchasing an additional 32,800 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Kinross Gold by 23.9% in the 4th quarter. Benjamin Edwards Inc. now owns 13,050 shares of the mining company’s stock valued at $367,000 after purchasing an additional 2,517 shares during the period. 63.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on KGC shares. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. TD Securities reduced their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Scotiabank increased their price target on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Trading Up 3.6%

Shares of KGC stock opened at $31.52 on Friday. Kinross Gold Corporation has a 52-week low of $13.28 and a 52-week high of $39.11. The stock has a market cap of $37.63 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The firm has a fifty day moving average of $31.80 and a 200-day moving average of $30.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The business’s revenue was up 60.8% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Corporation will post 2.9 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 6.78%.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.