Amundi Sells 225,867 Shares of Kinross Gold Corporation $KGC

Amundi lessened its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,477,632 shares of the mining company’s stock after selling 225,867 shares during the quarter. Amundi owned about 0.53% of Kinross Gold worth $100,857,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KGC. Headlands Technologies LLC bought a new position in shares of Kinross Gold during the 1st quarter valued at approximately $77,000. MAI Capital Management raised its stake in Kinross Gold by 22.0% during the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after purchasing an additional 907 shares in the last quarter. IFP Advisors Inc lifted its position in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares during the last quarter. Wealth Preservation Advisors LLC bought a new position in Kinross Gold during the first quarter valued at $84,000. Finally, Arista Wealth Management LLC purchased a new position in shares of Kinross Gold in the 2nd quarter worth $156,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on KGC. UBS Group upped their target price on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 30th. Raymond James Financial raised their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. CIBC lifted their target price on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research report on Sunday. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus price target of $29.81.

Kinross Gold Stock Performance

Kinross Gold stock opened at $27.29 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The firm has a market capitalization of $32.94 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 0.40 and a beta of 0.74. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $28.81. The company’s 50-day moving average is $25.18 and its 200 day moving average is $20.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be given a $0.035 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 9.79%.

Kinross Gold Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.