Profund Advisors LLC Cuts Holdings in Kinross Gold Corporation $KGC

Profund Advisors LLC decreased its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 17.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,007 shares of the mining company’s stock after selling 25,915 shares during the quarter. Profund Advisors LLC’s holdings in Kinross Gold were worth $3,492,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Auxano Advisors LLC purchased a new stake in Kinross Gold during the 4th quarter worth about $881,000. Passumpsic Savings Bank purchased a new stake in Kinross Gold during the 4th quarter worth about $1,690,000. Northwestern Mutual Wealth Management Co. increased its holdings in Kinross Gold by 223.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 270,052 shares of the mining company’s stock worth $7,605,000 after purchasing an additional 186,488 shares during the period. Fulcrum Asset Management LLP purchased a new stake in Kinross Gold during the 4th quarter worth about $772,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Kinross Gold during the 4th quarter worth about $24,339,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of several recent research reports. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Scotiabank increased their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Weiss Ratings downgraded Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a report on Friday, May 1st. Finally, TD Securities dropped their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $38.81.

Kinross Gold Trading Down 3.9%

KGC opened at $27.40 on Wednesday. Kinross Gold Corporation has a one year low of $13.94 and a one year high of $39.11. The company has a market cap of $32.68 billion, a P/E ratio of 11.61, a PEG ratio of 1.02 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The business’s 50-day simple moving average is $31.05 and its 200-day simple moving average is $30.56.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, equities research analysts expect that Kinross Gold Corporation will post 2.92 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s dividend payout ratio is 6.78%.

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.