The Manufacturers Life Insurance Company Trims Stake in Kinross Gold Corporation $KGC

The Manufacturers Life Insurance Company lessened its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,435,939 shares of the mining company’s stock after selling 578,382 shares during the period. The Manufacturers Life Insurance Company owned 0.80% of Kinross Gold worth $222,974,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Continuum Advisory LLC purchased a new stake in shares of Kinross Gold in the 2nd quarter valued at about $26,000. Virtus Advisers LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $28,000. Ascentis Independent Advisors purchased a new position in Kinross Gold in the 1st quarter worth approximately $29,000. Caitlin John LLC increased its holdings in shares of Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock worth $32,000 after buying an additional 400 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 4.5%

KGC opened at $28.88 on Friday. The company has a market cap of $34.21 billion, a P/E ratio of 10.94, a P/E/G ratio of 0.82 and a beta of 0.84. The business’s 50-day moving average price is $26.87 and its 200-day moving average price is $28.87. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $21.94 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating 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 period in the prior year, the business posted $0.44 EPS. Kinross Gold’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities analysts expect that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold’s dividend payout ratio is 6.06%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. UBS Group cut 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. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Scotiabank reduced their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s 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 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.