Fulcrum Asset Management LLP Trims Stake in Kinross Gold Corporation $KGC

Fulcrum Asset Management LLP reduced its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 60.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,558 shares of the mining company’s stock after selling 105,758 shares during the period. Fulcrum Asset Management LLP’s holdings in Kinross Gold were worth $1,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. U S Global Investors Inc. boosted its holdings in Kinross Gold by 95.4% during the first quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock valued at $5,962,000 after acquiring an additional 95,363 shares during the period. SteelPeak Wealth LLC bought a new position in shares of Kinross Gold in the first quarter worth about $2,263,000. TD Asset Management Inc lifted its position in shares of Kinross Gold by 4.7% during the 4th quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Man Group plc lifted its position in shares of Kinross Gold by 7.6% during the 4th quarter. Man Group plc now owns 12,526,669 shares of the mining company’s stock worth $352,751,000 after purchasing an additional 882,373 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Kinross Gold during the 2nd quarter valued at approximately $217,800,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on KGC shares. Weiss Ratings downgraded Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Jefferies Financial Group reduced their price objective on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Scotiabank lowered their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, July 14th. UBS Group dropped their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $38.43.

Kinross Gold Trading Down 3.7%

Kinross Gold stock opened at $31.30 on Friday. The business has a 50 day moving average price of $25.78 and a two-hundred day moving average price of $29.13. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 0.88 and a beta of 0.78. Kinross Gold Corporation has a 12 month low of $20.19 and a 12 month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.Kinross Gold’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. As a group, equities analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Kinross Gold Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.