Citigroup Inc. Sells 179,874 Shares of Kinross Gold Corporation $KGC

Citigroup Inc. trimmed its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 13.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,199,205 shares of the mining company’s stock after selling 179,874 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Kinross Gold worth $29,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Kinross Gold by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock valued at $1,259,280,000 after acquiring an additional 1,553,594 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold during the second quarter worth $389,025,000. Man Group plc boosted its stake in shares of Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Kinross Gold by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock worth $184,827,000 after purchasing an additional 37,942 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Kinross Gold by 21.4% in the second quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock worth $172,571,000 after purchasing an additional 1,876,764 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 0.0%

Shares of NYSE:KGC opened at $36.05 on Thursday. The company has a market capitalization of $43.25 billion, a PE ratio of 18.39, a P/E/G ratio of 0.39 and a beta of 0.74. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11. The business’s fifty day simple moving average is $32.65 and its 200-day simple moving average is $27.01.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the business posted $0.20 EPS. The firm’s quarterly revenue was up 42.9% on a year-over-year basis. As a group, equities research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio (DPR) is 7.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on KGC shares. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. UBS Group set a $43.00 price target on Kinross Gold in a report on Friday, January 30th. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a report on Wednesday, February 4th. Finally, Desjardins initiated coverage on Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus price target of $34.81.

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.