Janney Montgomery Scott LLC Sells 11,808 Shares of Kinross Gold Corporation $KGC

Janney Montgomery Scott LLC decreased its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 11.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,697 shares of the mining company’s stock after selling 11,808 shares during the period. Janney Montgomery Scott LLC’s holdings in Kinross Gold were worth $1,386,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock worth $632,797,000 after purchasing an additional 12,705,061 shares during the period. Artemis Investment Management LLP increased its position in shares of Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after purchasing an additional 5,400,447 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after purchasing an additional 3,398,687 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of Kinross Gold in the first quarter worth $33,877,000. Finally, Ninety One SA PTY Ltd bought a new position in shares of Kinross Gold in the first quarter worth $28,898,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of recent analyst reports. Raymond James Financial raised their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday. UBS Group raised their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, September 19th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. CIBC raised their price objective on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research note on Friday. Finally, TD Securities raised their price objective on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $25.19.

Kinross Gold Stock Performance

NYSE:KGC opened at $24.24 on Monday. The stock’s 50-day simple moving average is $21.81 and its 200 day simple moving average is $17.24. The firm has a market capitalization of $29.38 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 0.77 and a beta of 0.64. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $25.91.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the firm posted $0.14 earnings per share. Kinross Gold’s revenue was up 41.7% compared to the same quarter last year. On average, analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Kinross Gold Company 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.