SG Americas Securities LLC Reduces Position in Kinross Gold Corporation $KGC

SG Americas Securities LLC reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 82.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,459 shares of the mining company’s stock after selling 122,601 shares during the period. SG Americas Securities LLC’s holdings in Kinross Gold were worth $658,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Armstrong Advisory Group Inc. boosted its position in shares of Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after acquiring an additional 717 shares in the last quarter. Mather Group LLC. purchased a new stake in Kinross Gold during the third quarter worth approximately $44,000. Transce3nd LLC boosted its holdings in Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares in the last quarter. MAI Capital Management increased its stake in Kinross Gold by 22.0% in 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 during the last quarter. Finally, IFP Advisors Inc increased its stake in Kinross Gold by 19.1% in 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. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Raymond James Financial upped their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. UBS Group raised their price objective on Kinross Gold from $33.00 to $37.50 and gave the stock a “buy” rating in a report on Friday, January 16th. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average target price of $30.56.

Kinross Gold Stock Performance

NYSE KGC opened at $35.31 on Thursday. The firm has a market cap of $42.37 billion, a P/E ratio of 24.69, a P/E/G ratio of 0.41 and a beta of 0.75. Kinross Gold Corporation has a 52-week low of $10.28 and a 52-week high of $37.60. The business’s 50-day moving average price is $28.77 and its 200 day moving average price is $23.81. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping 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 company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were given a $0.035 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%. Kinross Gold’s payout ratio is 9.79%.

About Kinross Gold

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.