Patriot Financial Group Insurance Agency LLC Sells 7,782 Shares of Kinross Gold Co. (NYSE:KGC)

Patriot Financial Group Insurance Agency LLC lowered its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,218 shares of the mining company’s stock after selling 7,782 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Kinross Gold were worth $1,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in KGC. Signaturefd LLC increased its position in Kinross Gold by 2.2% during the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock valued at $381,000 after acquiring an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock valued at $40,000 after purchasing an additional 1,002 shares during the period. TD Private Client Wealth LLC increased its position in shares of Kinross Gold by 2.4% during the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock valued at $423,000 after purchasing an additional 1,079 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in shares of Kinross Gold by 2.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock worth $367,000 after purchasing an additional 1,080 shares during the period. Finally, Syon Capital LLC lifted its stake in shares of Kinross Gold by 2.3% in the 4th quarter. Syon Capital LLC now owns 57,022 shares of the mining company’s stock worth $529,000 after purchasing an additional 1,284 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 2.3%

Shares of KGC stock opened at $15.10 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The stock has a fifty day simple moving average of $14.26 and a two-hundred day simple moving average of $11.96. The firm has a market capitalization of $18.52 billion, a PE ratio of 19.61, a PEG ratio of 0.68 and a beta of 0.63. Kinross Gold Co. has a 52-week low of $7.20 and a 52-week high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 38.5% on a year-over-year basis. On average, analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s payout ratio is currently 12.24%.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an “outperform” rating for the company. Scotiabank upped their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a research note on Thursday, May 8th. Royal Bank of Canada lifted their target price on Kinross Gold from $14.00 to $19.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James upped their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $15.40.

Kinross Gold 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.