Kinross Gold Corporation $KGC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 63.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 805,999 shares of the mining company’s stock after selling 1,400,157 shares during the quarter. Wellington Management Group LLP owned approximately 0.07% of Kinross Gold worth $19,074,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. U S Global Investors Inc. boosted its position in 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 acquiring an additional 95,363 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in Kinross Gold in the 1st quarter valued at about $2,263,000. TD Asset Management Inc lifted its stake in Kinross Gold by 4.7% in the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares in the last quarter. Man Group plc lifted its stake in Kinross Gold by 7.6% in the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Kinross Gold in the 2nd quarter worth approximately $217,800,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KGC. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada lowered their price objective 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. Scotiabank cut their target price 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. Wall Street Zen lowered Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Kinross Gold Stock Performance

KGC opened at $30.87 on Monday. The stock has a market capitalization of $36.57 billion, a PE ratio of 11.69, a P/E/G ratio of 0.83 and a beta of 0.84. Kinross Gold Corporation has a one year low of $21.61 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. The business’s 50 day moving average price is $26.38 and its 200 day moving average price is $28.97.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 6.06%.

Kinross Gold 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.