Kingsview Wealth Management LLC Sells 1,050 Shares of Kinross Gold Corporation (NYSE:KGC)

Kingsview Wealth Management LLC trimmed its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 9.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,531 shares of the mining company’s stock after selling 1,050 shares during the period. Kingsview Wealth Management LLC’s holdings in Kinross Gold were worth $133,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KGC. Farther Finance Advisors LLC lifted its stake in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company’s stock valued at $71,000 after buying an additional 3,659 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Kinross Gold by 68.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company’s stock valued at $79,000 after acquiring an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Kinross Gold by 39.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock worth $80,000 after purchasing an additional 1,787 shares in the last quarter. Blue Trust Inc. increased its position in shares of Kinross Gold by 37.0% during the first quarter. Blue Trust Inc. now owns 7,811 shares of the mining company’s stock valued at $98,000 after purchasing an additional 2,110 shares during the period. Finally, Helium Advisors LLC acquired a new position in shares of Kinross Gold in the fourth quarter valued at $97,000. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent research reports. BMO Capital Markets started coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Raymond James Financial upgraded shares of Kinross Gold to a “hold” rating and set a $15.00 target price on the stock in a research report on Monday, June 30th. Jefferies Financial Group raised shares of Kinross Gold from a “hold” rating to a “buy” rating and upped their target price for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Finally, Royal Bank Of Canada lifted their price objective on Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $18.00.

Kinross Gold Stock Down 2.0%

KGC opened at $15.85 on Friday. The firm has a market cap of $19.44 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.60 and a beta of 0.63. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.22 and a current ratio of 2.83. The firm’s 50-day simple moving average is $15.31 and its 200-day simple moving average is $13.31. Kinross Gold Corporation has a twelve month low of $7.84 and a twelve month high of $16.52.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. Equities research analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 29th. Kinross Gold’s payout ratio is currently 12.24%.

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.