Kinross Gold Corporation $KGC Shares Sold by CI Investments Inc.

CI Investments Inc. lessened its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 41.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,609,284 shares of the mining company’s stock after selling 2,605,296 shares during the quarter. CI Investments Inc.’s holdings in Kinross Gold were worth $110,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold in the 1st quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $28,000. Finally, Elevated Capital Advisors LLC acquired a new position in Kinross Gold during the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 14th. UBS Group cut their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada dropped their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.31.

Kinross Gold Stock Up 4.0%

Shares of Kinross Gold stock opened at $23.42 on Wednesday. The business’s fifty day moving average price is $26.11 and its two-hundred day moving average price is $30.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The company has a market capitalization of $27.79 billion, a P/E ratio of 9.93, a PEG ratio of 0.60 and a beta of 0.78. Kinross Gold Corporation has a 1-year low of $15.37 and a 1-year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, research analysts forecast that Kinross Gold Corporation will post 2.65 EPS for the current year.

Kinross Gold Dividend Announcement

The business 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. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold’s dividend payout ratio is presently 6.78%.

Kinross Gold Company 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.