Kinross Gold Corporation $KGC Shares Sold by Wealthstar Advisors LLC

Wealthstar Advisors LLC lowered its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 39.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,805 shares of the mining company’s stock after selling 20,293 shares during the period. Wealthstar Advisors LLC’s holdings in Kinross Gold were worth $971,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Kinross Gold during the fourth quarter worth about $26,000. Financial Management Professionals Inc. purchased a new stake in Kinross Gold in the 4th quarter valued at about $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold in the 3rd quarter valued at about $28,000. Harvest Fund Management Co. Ltd increased its stake in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares during the last quarter. Finally, Elevated Capital Advisors LLC acquired a new position in shares of Kinross Gold during the 4th quarter valued at about $36,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $24.68 on Friday. The firm has a market capitalization of $29.34 billion, a PE ratio of 10.46, a P/E/G ratio of 0.87 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. The business has a 50-day moving average of $27.92 and a two-hundred day moving average of $30.69. Kinross Gold Corporation has a 12 month low of $15.04 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company posted $0.30 EPS. The company’s revenue was up 60.8% compared to the same quarter last year. As a group, research analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Analyst Upgrades and Downgrades

KGC has been the topic of several recent analyst reports. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. UBS Group cut their price target on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.94.

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.