Candriam S.C.A. Sells 11,179 Shares of Kinross Gold Co. (NYSE:KGC)

Candriam S.C.A. lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 29.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,386 shares of the mining company’s stock after selling 11,179 shares during the quarter. Candriam S.C.A.’s holdings in Kinross Gold were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KGC. Atlas Capital Advisors LLC bought a new position in Kinross Gold in the 2nd quarter worth $40,000. Advisor Resource Council purchased a new position in shares of Kinross Gold during the first quarter valued at about $60,000. Sivia Capital Partners LLC bought a new position in Kinross Gold in the fourth quarter worth about $63,000. Bright Futures Wealth Management LLC. purchased a new stake in Kinross Gold in the first quarter worth about $70,000. Finally, Fifth Third Bancorp boosted its position in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of several research reports. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC boosted their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. BMO Capital Markets upped their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, July 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.15 on Thursday. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.48 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. Kinross Gold Co. has a one year low of $4.32 and a one year high of $9.58. The company’s 50-day moving average is $8.86 and its 200 day moving average is $7.53.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Kinross Gold Co. will post 0.58 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

About Kinross Gold

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.