Denali Advisors LLC Sells 28,500 Shares of Kinross Gold Corporation $KGC

Denali Advisors LLC reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 9.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 258,090 shares of the mining company’s stock after selling 28,500 shares during the quarter. Denali Advisors LLC’s holdings in Kinross Gold were worth $4,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold during the first quarter worth about $55,000. Headlands Technologies LLC acquired a new position in shares of Kinross Gold in the first quarter worth approximately $77,000. SBI Securities Co. Ltd. lifted its stake in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock worth $80,000 after acquiring an additional 1,787 shares during the period. IFP Advisors Inc lifted its stake in shares of Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares during the period. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Kinross Gold in the first quarter worth approximately $84,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

Shares of KGC opened at $23.06 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The business’s 50 day moving average price is $22.79 and its two-hundred day moving average price is $17.85. The firm has a market cap of $27.95 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.53 and a beta of 0.64.

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

Kinross Gold Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on KGC shares. Jefferies Financial Group raised Kinross Gold from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. CIBC lifted their price objective on Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. National Bankshares reaffirmed an “outperform” rating on shares of Kinross Gold in a research note on Tuesday, June 24th. TD Securities boosted their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and an average price target of $25.69.

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.