Creative Planning Trims Holdings in Kinross Gold Co. (NYSE:KGC)

Creative Planning lowered its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 52.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,340 shares of the mining company’s stock after selling 11,591 shares during the quarter. Creative Planning’s holdings in Kinross Gold were worth $66,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Evoke Wealth LLC raised its position in Kinross Gold by 187.5% during the 1st quarter. Evoke Wealth LLC now owns 4,830 shares of the mining company’s stock worth $32,000 after buying an additional 3,150 shares during the last quarter. Comerica Bank raised its position in Kinross Gold by 5.0% during the 1st quarter. Comerica Bank now owns 72,344 shares of the mining company’s stock worth $532,000 after buying an additional 3,434 shares during the last quarter. The PNC Financial Services Group Inc. raised its position in Kinross Gold by 15.0% during the 1st quarter. The PNC Financial Services Group Inc. now owns 32,055 shares of the mining company’s stock worth $214,000 after buying an additional 4,170 shares during the last quarter. Maverick Capital Ltd. raised its position in Kinross Gold by 18.9% during the 1st quarter. Maverick Capital Ltd. now owns 27,334 shares of the mining company’s stock worth $182,000 after buying an additional 4,353 shares during the last quarter. Finally, SCP Investment LP raised its position in Kinross Gold by 18.6% during the 1st quarter. SCP Investment LP now owns 28,000 shares of the mining company’s stock worth $187,000 after buying an additional 4,400 shares during the last quarter. Institutional investors own 44.95% of the company’s stock.

A number of equities analysts have commented on the stock. National Bank Financial upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating in a research report on Friday, July 30th. Stifel Nicolaus cut their price target on shares of Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating for the company in a report on Wednesday, June 23rd. Credit Suisse Group upgraded shares of Kinross Gold from a “neutral” rating to an “outperform” rating and increased their price target for the company from $7.50 to $8.00 in a report on Wednesday, June 23rd. Canaccord Genuity cut their price target on shares of Kinross Gold from C$13.50 to C$12.50 and set a “buy” rating for the company in a report on Friday, July 30th. Finally, CIBC downgraded shares of Kinross Gold from an “outperform” rating to a “neutral” rating and cut their price target for the company from $11.25 to $8.50 in a report on Tuesday, June 22nd. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.63.

Shares of NYSE KGC opened at $5.83 on Wednesday. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 5.72 and a beta of 0.82. Kinross Gold Co. has a 52 week low of $5.62 and a 52 week high of $10.31. The company’s 50-day moving average price is $6.10 and its 200 day moving average price is $6.81. The company has a current ratio of 3.06, a quick ratio of 1.32 and a debt-to-equity ratio of 0.20.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, July 27th. The mining company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). Kinross Gold had a net margin of 29.97% and a return on equity of 15.18%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, research analysts expect that Kinross Gold Co. will post 0.42 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, August 18th. This represents a $0.12 annualized dividend and a dividend yield of 2.06%. Kinross Gold’s dividend payout ratio is currently 15.58%.

Kinross Gold Profile

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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