Janney Montgomery Scott LLC Has $1.21 Million Holdings in Kinross Gold Corporation $KGC

Janney Montgomery Scott LLC trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 57.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,760 shares of the mining company’s stock after selling 54,641 shares during the period. Janney Montgomery Scott LLC’s holdings in Kinross Gold were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. 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 acquiring an additional 261,861 shares in the last quarter. Man Group plc grew its position in Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock valued at $352,751,000 after purchasing an additional 882,373 shares in the last quarter. Prospera Financial Services Inc increased its stake in Kinross Gold by 369.0% in the 4th quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company’s stock valued at $2,439,000 after buying an additional 68,154 shares during the period. FORA Capital LLC purchased a new stake in Kinross Gold in the 3rd quarter worth approximately $2,060,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Kinross Gold by 14.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,452,170 shares of the mining company’s stock valued at $153,850,000 after acquiring an additional 692,176 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE KGC traded down $0.07 during trading hours on Friday, hitting $24.13. 7,749,254 shares of the company’s stock were exchanged, compared to its average volume of 8,325,050. The company’s 50-day moving average price is $27.17 and its 200-day moving average price is $30.55. Kinross Gold Corporation has a 1-year low of $15.10 and a 1-year high of $39.11. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, sell-side analysts expect that Kinross Gold Corporation will post 2.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio is presently 6.78%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KGC. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 3rd. UBS Group lowered their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.81.

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.