Mudita Advisors LLP Sells 322,465 Shares of Kinross Gold Corporation $KGC

Mudita Advisors LLP lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 64.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,335 shares of the mining company’s stock after selling 322,465 shares during the quarter. Kinross Gold comprises approximately 1.3% of Mudita Advisors LLP’s investment portfolio, making the stock its 16th biggest position. Mudita Advisors LLP’s holdings in Kinross Gold were worth $4,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KGC. Massachusetts Financial Services Co. MA lifted its position in Kinross Gold by 192.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock worth $90,629,000 after purchasing an additional 2,398,621 shares during the period. Osaic Holdings Inc. increased its holdings in Kinross Gold by 203.0% in the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after buying an additional 102,348 shares during the period. U S Global Investors Inc. raised its position in shares of Kinross Gold by 60.5% in the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock valued at $10,371,000 after buying an additional 157,334 shares in the last quarter. Dynasty Wealth Management LLC raised its position in shares of Kinross Gold by 185.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after buying an additional 146,955 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $1,253,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KGC shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Scotiabank upped their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a research note on Sunday, December 7th. Finally, TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $39.56.

Kinross Gold Price Performance

Shares of NYSE KGC traded down $1.07 during midday trading on Friday, reaching $31.45. 1,726,086 shares of the company were exchanged, compared to its average volume of 11,693,788. The stock’s 50-day moving average price is $33.80 and its 200-day moving average price is $28.09. The stock has a market cap of $37.74 billion, a P/E ratio of 16.09, a PEG ratio of 1.59 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a one year low of $11.12 and a one year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the company earned $0.20 EPS. Kinross Gold’s revenue was up 42.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a $0.04 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, March 11th. Kinross Gold’s dividend payout ratio is 8.16%.

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.