Boothe Investment Group Inc. Sells 66,645 Shares of Kinross Gold Corporation $KGC

Boothe Investment Group Inc. cut its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 525,732 shares of the mining company’s stock after selling 66,645 shares during the quarter. Kinross Gold comprises 3.1% of Boothe Investment Group Inc.’s portfolio, making the stock its 11th largest position. Boothe Investment Group Inc.’s holdings in Kinross Gold were worth $8,217,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

KGC has been the topic of several analyst reports. Raymond James Financial increased their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (a-)” rating on shares of Kinross Gold in a report on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of Kinross Gold in a report on Thursday. Finally, Canaccord Genuity Group raised their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.56.

Kinross Gold Stock Performance

Shares of KGC opened at $23.95 on Friday. The firm has a 50-day moving average of $23.07 and a 200-day moving average of $18.05. Kinross Gold Corporation has a one year low of $8.99 and a one year high of $27.84. The company has a market cap of $28.97 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. Kinross Gold’s revenue was up 41.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.03 per share. 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 payout ratio is presently 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.