U S Global Investors Inc. Sells 217,042 Shares of Kinross Gold Corporation $KGC

U S Global Investors Inc. trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 45.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,000 shares of the mining company’s stock after selling 217,042 shares during the period. U S Global Investors Inc.’s holdings in Kinross Gold were worth $4,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. Boston Partners grew its holdings in Kinross Gold by 36.5% during the 1st quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock worth $632,797,000 after acquiring an additional 12,705,061 shares in the last quarter. Artemis Investment Management LLP grew its holdings in Kinross Gold by 365.8% during the 1st quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after acquiring an additional 5,400,447 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Kinross Gold by 95.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after acquiring an additional 3,398,687 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in Kinross Gold during the 1st quarter worth about $33,877,000. Finally, Ninety One SA PTY Ltd bought a new position in Kinross Gold during the 1st quarter worth about $28,898,000. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, August 7th. Zacks Research cut shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Raymond James Financial raised their price target on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday. Jefferies Financial Group upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating and raised their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Finally, CIBC raised their price target on shares of Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $25.19.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $24.24 on Friday. The firm has a market capitalization of $29.38 billion, a P/E ratio of 19.54, a PEG ratio of 0.78 and a beta of 0.64. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $21.81 and a 200 day moving average price of $17.17. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $25.91.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue was up 41.7% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Sell-side analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 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.