Daiwa Securities Group Inc. Decreases Stock Position in Kinross Gold Corporation $KGC

Daiwa Securities Group Inc. cut its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,475 shares of the mining company’s stock after selling 54,451 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Kinross Gold were worth $7,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in KGC. Norges Bank purchased a new position in shares of Kinross Gold in the fourth quarter valued at $518,656,000. Van ECK Associates Corp boosted its stake in shares of Kinross Gold by 7.8% in the third quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after purchasing an additional 7,825,336 shares during the period. Man Group plc raised its holdings in Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Bank of America Corp DE raised its holdings in Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after acquiring an additional 3,617,320 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Kinross Gold in the third quarter valued at $80,299,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 0.3%

Shares of NYSE:KGC opened at $26.15 on Monday. The stock has a market capitalization of $31.19 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.93 and a beta of 0.71. Kinross Gold Corporation has a 1-year low of $14.71 and a 1-year high of $39.11. The company’s fifty day moving average is $30.68 and its two-hundred day moving average is $30.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the company earned $0.30 earnings per share. The firm’s revenue was up 60.8% compared to the same quarter last year. Equities analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is 6.78%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KGC shares. UBS Group cut their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. TD Securities cut their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. 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, Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.

About Kinross Gold

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.