State of Wyoming Sells 25,915 Shares of Kinross Gold Corporation $KGC

State of Wyoming reduced its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 36.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 45,372 shares of the mining company’s stock after selling 25,915 shares during the period. State of Wyoming’s holdings in Kinross Gold were worth $1,127,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in KGC. GPS Wealth Strategies Group LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Kinross Gold during the 3rd quarter worth $31,000. Armstrong Advisory Group Inc. boosted its position in Kinross Gold by 95.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares during the period. Hollencrest Capital Management purchased a new position in Kinross Gold in the 3rd quarter valued at approximately $40,000. Finally, Mather Group LLC. purchased a new position in shares of Kinross Gold in the third quarter valued at $44,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on KGC shares. Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 18th. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group restated a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus target price of $32.88.

Kinross Gold Stock Down 13.8%

Shares of NYSE:KGC opened at $31.55 on Monday. The stock has a fifty day simple moving average of $30.37 and a two-hundred day simple moving average of $24.91. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $37.85 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 0.36 and a beta of 0.74. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. On average, research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

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

Kinross Gold Company 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.