Kinross Gold Corporation $KGC Position Trimmed by Knoll Capital Management LLC

Knoll Capital Management LLC lessened its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 410,000 shares of the mining company’s stock after selling 30,000 shares during the period. Kinross Gold accounts for 5.5% of Knoll Capital Management LLC’s holdings, making the stock its 6th biggest position. Knoll Capital Management LLC’s holdings in Kinross Gold were worth $10,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Laird Norton Wetherby Wealth Management LLC raised its stake in shares of Kinross Gold by 2.1% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after buying an additional 521 shares during the period. Larson Financial Group LLC grew its stake in shares of Kinross Gold by 39.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,553 shares of the mining company’s stock valued at $63,000 after acquiring an additional 719 shares during the period. Focus Partners Wealth increased its holdings in Kinross Gold by 88.4% in the 3rd quarter. Focus Partners Wealth now owns 24,859 shares of the mining company’s stock worth $618,000 after acquiring an additional 11,663 shares in the last quarter. Centiva Capital LP increased its holdings in Kinross Gold by 583.5% in the 3rd quarter. Centiva Capital LP now owns 102,470 shares of the mining company’s stock worth $2,546,000 after acquiring an additional 87,478 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Kinross Gold during the 3rd quarter worth approximately $483,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on KGC shares. TD Securities lowered their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $45.00 in a research note on Thursday. Desjardins started coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Finally, UBS Group set a $43.00 price target on Kinross Gold in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.56.

Kinross Gold Trading Up 1.6%

KGC stock opened at $31.04 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. Kinross Gold Corporation has a 1-year low of $11.12 and a 1-year high of $39.11. The business has a 50 day simple moving average of $33.89 and a two-hundred day simple moving average of $28.35. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.49 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter last year, the business posted $0.20 earnings per share. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. Research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio is 8.16%.

About Kinross Gold

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.