Kinross Gold Co. (NYSE:KGC) Stake Reduced by AGF Management Ltd.

AGF Management Ltd. cut its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 42.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 907,437 shares of the mining company’s stock after selling 669,486 shares during the period. AGF Management Ltd. owned 0.07% of Kinross Gold worth $7,555,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KGC. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold during the second quarter worth approximately $40,000. Fifth Third Bancorp grew its stake in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares in the last quarter. Advisor Resource Council acquired a new position in shares of Kinross Gold during the first quarter valued at $60,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold during the fourth quarter valued at about $63,000. Finally, Blue Trust Inc. raised its stake in shares of Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after purchasing an additional 6,011 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.78 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $8.89 and its two-hundred day moving average price is $7.54. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $9.84. The stock has a market cap of $12.01 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 0.48 and a beta of 1.23.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KGC. CIBC lifted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. BMO Capital Markets lifted their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

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.