Denali Advisors LLC Has $1.94 Million Holdings in Kinross Gold Corporation $KGC

Denali Advisors LLC decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 35.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 82,147 shares of the mining company’s stock after selling 44,179 shares during the period. Denali Advisors LLC’s holdings in Kinross Gold were worth $1,940,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Kinross Gold by 35.1% during the first quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after buying an additional 18,287 shares during the last quarter. Caxton Associates LLP acquired a new stake in Kinross Gold in the 1st quarter worth $158,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold during the 2nd quarter worth about $167,000. M&T Bank Corp increased its holdings in shares of Kinross Gold by 9.0% during the 2nd quarter. M&T Bank Corp now owns 16,153 shares of the mining company’s stock worth $252,000 after purchasing an additional 1,328 shares during the period. Finally, AXA S.A. acquired a new position in shares of Kinross Gold during the second quarter valued at about $2,483,000. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KGC. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Jefferies Financial Group cut their price target on Kinross Gold from $41.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 6th. UBS Group reduced their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Finally, Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Kinross Gold has an average rating of “Moderate Buy” and a consensus target price of $38.43.

Kinross Gold Trading Up 10.4%

KGC stock opened at $29.93 on Thursday. Kinross Gold Corporation has a fifty-two week low of $18.74 and a fifty-two week high of $39.11. The stock has a market capitalization of $35.50 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 0.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The business has a fifty day moving average price of $24.97 and a 200 day moving average price of $29.09.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Analysts expect that Kinross Gold Corporation will post 2.63 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, August 20th. Kinross Gold’s dividend payout ratio is currently 6.06%.

About Kinross Gold

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.