IFP Advisors Inc Has $5.38 Million Stake in Kinross Gold Corporation $KGC

IFP Advisors Inc reduced its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 55.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 227,680 shares of the mining company’s stock after selling 285,694 shares during the quarter. IFP Advisors Inc’s holdings in Kinross Gold were worth $5,378,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its stake in Kinross Gold by 17.0% in the second quarter. Allianz Asset Management GmbH now owns 9,596,638 shares of the mining company’s stock valued at $227,141,000 after acquiring an additional 1,395,576 shares during the period. U S Global Investors Inc. grew its holdings in shares of Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock worth $5,962,000 after buying an additional 95,363 shares in the last quarter. SteelPeak Wealth LLC bought a new position in Kinross Gold in the first quarter valued at $2,263,000. TD Asset Management Inc grew its stake in Kinross Gold by 4.7% in the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock valued at $165,814,000 after purchasing an additional 261,861 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Kinross Gold in the second quarter valued at $217,800,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.3%

Shares of NYSE:KGC opened at $30.24 on Thursday. The business’s 50 day simple moving average is $26.79 and its two-hundred day simple moving average is $28.90. The firm has a market cap of $35.82 billion, a P/E ratio of 11.45, a PEG ratio of 0.81 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a 52-week low of $21.94 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was up 29.5% on a year-over-year basis. As a group, research analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 6.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Scotiabank cut their target price on shares of 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 dropped their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Zacks Research upgraded shares of Kinross Gold from a “strong sell” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada decreased their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Company Profile

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company’s operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.