Kinross Gold Corporation $KGC Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. cut its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 30.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,718 shares of the mining company’s stock after selling 752 shares during the period. Harbour Investments Inc.’s holdings in Kinross Gold were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KGC shares. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Raymond James Financial upped their target price on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. UBS Group upped their target price on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Canaccord Genuity Group upped their target price on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Finally, Scotiabank restated an “outperform” rating on shares of Kinross Gold in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $27.56.

Kinross Gold Price Performance

NYSE KGC opened at $23.95 on Friday. The stock has a market capitalization of $28.97 billion, a P/E ratio of 19.31, a P/E/G ratio of 0.47 and a beta of 0.64. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The business’s fifty day moving average is $23.07 and its two-hundred day moving average is $18.05. 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 (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio is currently 9.68%.

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.