Pinnacle Wealth Planning Services Inc. Has $350,000 Stock Position in Kinross Gold Corporation $KGC

Pinnacle Wealth Planning Services Inc. lessened its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 19.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 22,411 shares of the mining company’s stock after selling 5,274 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Kinross Gold were worth $350,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KGC. Vanguard Group Inc. raised its holdings in Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock worth $603,829,000 after purchasing an additional 561,563 shares during the last quarter. Boston Partners boosted its stake in shares of Kinross Gold by 36.5% in the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after purchasing an additional 12,705,061 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Kinross Gold by 0.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after buying an additional 37,942 shares during the period. Geode Capital Management LLC grew its position in shares of Kinross Gold by 21.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock worth $172,571,000 after buying an additional 1,876,764 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kinross Gold by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company’s stock worth $126,378,000 after buying an additional 603,388 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.8%

Shares of NYSE KGC opened at $25.39 on Wednesday. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $27.84. The stock has a market cap of $30.65 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.60. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average is $24.31 and its 200-day moving average is $19.33.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Equities research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s payout ratio is 9.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. CIBC raised their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. TD Securities increased their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.