Aire Advisors LLC Trims Stake in Kinross Gold Corporation $KGC

Aire Advisors LLC reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,000 shares of the mining company’s stock after selling 5,000 shares during the quarter. Aire Advisors LLC’s holdings in Kinross Gold were worth $985,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in Kinross Gold by 95.7% during the 1st 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. Edmond DE Rothschild Holding S.A. increased its holdings in Kinross Gold by 21.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock worth $4,076,000 after purchasing an additional 57,966 shares during the period. Sprott Inc. increased its holdings in Kinross Gold by 1.7% during the 1st quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after purchasing an additional 48,905 shares during the period. Artemis Investment Management LLP increased its holdings in Kinross Gold by 365.8% during the 1st 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. Finally, Bayforest Capital Ltd increased its holdings in Kinross Gold by 30.2% during the 2nd quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after purchasing an additional 12,821 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 5.8%

Kinross Gold stock opened at $26.93 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. The stock has a market capitalization of $32.65 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 0.81 and a beta of 0.64. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $27.45. The business has a fifty day moving average price of $22.29 and a 200-day moving average price of $17.45.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Zacks Research cut Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. TD Securities increased their target price on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Raymond James Financial increased their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Kinross Gold in a research report on Wednesday, October 8th. Finally, CIBC increased their target price on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.19.

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.