NewEdge Advisors LLC Has $801,000 Position in Kinross Gold Corporation $KGC

NewEdge Advisors LLC cut its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 53.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,247 shares of the mining company’s stock after selling 30,603 shares during the quarter. NewEdge Advisors LLC’s holdings in Kinross Gold were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Kinross Gold by 3.2% in the 4th quarter. Parallel Advisors LLC now owns 9,310 shares of the mining company’s stock valued at $262,000 after purchasing an additional 292 shares during the last quarter. Turning Point Benefit Group Inc. grew its stake in shares of Kinross Gold by 6.6% during the fourth quarter. Turning Point Benefit Group Inc. now owns 6,315 shares of the mining company’s stock worth $178,000 after buying an additional 393 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Kinross Gold by 2.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 22,569 shares of the mining company’s stock worth $636,000 after buying an additional 473 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Kinross Gold by 2.1% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 25,309 shares of the mining company’s stock worth $629,000 after buying an additional 521 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KGC. Zacks Research downgraded Kinross Gold from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. UBS Group lowered their target price on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada cut their price target on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Stock Performance

NYSE KGC opened at $29.93 on Thursday. The company has a market capitalization of $35.50 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 0.73 and a beta of 0.78. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $18.74 and a twelve month high of $39.11. The stock has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $29.09.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Corporation will post 2.63 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s payout ratio is currently 6.06%.

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.