RFG Advisory LLC Lowers Holdings in Kinross Gold Corporation $KGC

RFG Advisory LLC decreased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 41.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,783 shares of the mining company’s stock after selling 30,008 shares during the quarter. RFG Advisory LLC’s holdings in Kinross Gold were worth $1,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PKO Investment Management Joint Stock Co grew 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 buying an additional 32,800 shares during the period. Benjamin Edwards Inc. grew 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 buying an additional 2,517 shares during the period. LMG Wealth Partners LLC grew its holdings in Kinross Gold by 3.9% in the 4th quarter. LMG Wealth Partners LLC now owns 61,846 shares of the mining company’s stock valued at $1,742,000 after buying an additional 2,347 shares during the period. Fifth Third Bancorp grew its holdings in Kinross Gold by 48.7% in the 4th quarter. Fifth Third Bancorp now owns 1,879 shares of the mining company’s stock valued at $53,000 after buying an additional 615 shares during the period. Finally, Mutual Advisors LLC grew its holdings in Kinross Gold by 53.4% in the 4th quarter. Mutual Advisors LLC now owns 28,433 shares of the mining company’s stock valued at $801,000 after buying an additional 9,901 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings cut Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a report on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $45.00 in a report on Thursday, March 12th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

NYSE KGC opened at $31.52 on Friday. The firm has a market capitalization of $37.63 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.10 and a beta of 0.73. Kinross Gold Corporation has a 1-year low of $13.28 and a 1-year high of $39.11. 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 business’s 50-day simple moving average is $31.80 and its 200-day simple moving average is $30.19.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates 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 was up 60.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Equities analysts predict that Kinross Gold Corporation will post 2.9 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.5%. Kinross Gold’s payout ratio is 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.