Jupiter Asset Management Ltd. Sells 676,814 Shares of Kinross Gold Corporation $KGC

Jupiter Asset Management Ltd. lowered its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 32.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,398,750 shares of the mining company’s stock after selling 676,814 shares during the period. Jupiter Asset Management Ltd.’s holdings in Kinross Gold were worth $39,450,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of KGC. AQR Capital Management LLC raised its stake in shares of Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock valued at $887,000 after acquiring an additional 18,287 shares during the last quarter. Caxton Associates LLP acquired a new stake in Kinross Gold during the 1st quarter valued at approximately $158,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the 2nd quarter valued at $167,000. M&T Bank Corp boosted its stake in shares of Kinross Gold by 9.0% in the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock valued at $252,000 after purchasing an additional 1,328 shares during the last quarter. Finally, AXA S.A. bought a new stake in shares of Kinross Gold in the 2nd quarter valued at $2,483,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 2.7%

NYSE:KGC opened at $29.27 on Friday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $34.91 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.02 and a beta of 0.73. The firm has a fifty day simple moving average of $30.61 and a two-hundred day simple moving average of $30.82. Kinross Gold Corporation has a 12 month low of $14.49 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share. Analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Wall Street Analyst Weigh In

KGC has been the subject of several recent analyst reports. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a research report on Wednesday, February 4th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. Weiss Ratings cut shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $36.00 to $45.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

About Kinross Gold

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.