Pinnacle Wealth Planning Services Inc. Sells 5,274 Shares of Kinross Gold Corporation $KGC

Pinnacle Wealth Planning Services Inc. decreased its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 19.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,411 shares of the mining company’s stock after selling 5,274 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Kinross Gold were worth $350,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Boston Partners increased its stake in Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after acquiring an additional 12,705,061 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Kinross Gold by 127.2% during the second quarter. AustralianSuper Pty Ltd now owns 6,107,913 shares of the mining company’s stock valued at $95,509,000 after purchasing an additional 3,419,440 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock valued at $87,639,000 after purchasing an additional 3,398,687 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Kinross Gold by 55.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,387,031 shares of the mining company’s stock valued at $80,481,000 after purchasing an additional 2,288,753 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Kinross Gold by 21.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock worth $172,571,000 after buying an additional 1,876,764 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Kinross Gold stock opened at $25.39 on Wednesday. The business’s fifty day moving average is $24.31 and its two-hundred day moving average is $19.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm has a market cap of $30.65 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a 52 week low of $8.99 and a 52 week high of $27.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio (DPR) is currently 9.79%.

Wall Street Analyst Weigh In

KGC has been the topic of several recent analyst reports. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Canaccord Genuity Group lifted their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a report on Thursday, August 7th. Raymond James Financial boosted their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, CIBC lifted their price target on shares of Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $27.56.

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.