Harbour Investments Inc. Reduces Position in Kinross Gold Corporation $KGC

Harbour Investments Inc. trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 30.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,718 shares of the mining company’s stock after selling 752 shares during the quarter. Harbour Investments Inc.’s holdings in Kinross Gold were worth $27,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of KGC. Janney Montgomery Scott LLC increased its position in shares of Kinross Gold by 28.6% during the first quarter. Janney Montgomery Scott LLC now owns 100,505 shares of the mining company’s stock worth $1,267,000 after acquiring an additional 22,354 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Kinross Gold by 18.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 130,730 shares of the mining company’s stock worth $1,649,000 after acquiring an additional 19,987 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Kinross Gold during the first quarter worth about $147,000. Bessemer Group Inc. increased its holdings in Kinross Gold by 264.7% in the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company’s stock valued at $1,960,000 after buying an additional 112,800 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Kinross Gold by 10.0% in the first quarter. Sequoia Financial Advisors LLC now owns 37,056 shares of the mining company’s stock valued at $467,000 after buying an additional 3,373 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of several research analyst reports. TD Securities boosted their price objective on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial boosted their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. UBS Group boosted their price objective on Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “buy (a-)” rating on shares of Kinross Gold in a report on Wednesday, October 8th. Finally, CIBC boosted their price objective on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.56.

Kinross Gold Stock Up 0.1%

NYSE:KGC opened at $23.95 on Friday. The firm has a market capitalization of $28.97 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64. The stock has a 50 day moving average of $23.07 and a 200-day moving average of $18.05. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $27.84. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business’s revenue was up 41.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. Analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is 9.68%.

Kinross Gold 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.