Kinross Gold Corporation $KGC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 63.5% during the second quarter, Holdings Channel reports. The firm owned 805,999 shares of the mining company’s stock after selling 1,400,157 shares during the quarter. Wellington Management Group LLP’s holdings in Kinross Gold were worth $19,074,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KGC. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at $28,000. Ascentis Independent Advisors purchased a new position in Kinross Gold during the 1st quarter valued at about $29,000. Harvest Fund Management Co. Ltd boosted its holdings in Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares during the period. Caitlin John LLC grew its position in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Kinross Gold in the 3rd quarter valued at about $38,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $30.87 on Monday. The stock’s 50-day moving average is $26.38 and its two-hundred day moving average is $28.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. Kinross Gold Corporation has a 1-year low of $21.61 and a 1-year high of $39.11. The company has a market cap of $36.57 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.84.

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 the consensus estimate of $0.66 by $0.05. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Analysts forecast that Kinross Gold Corporation will post 2.61 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on KGC. Wall Street Zen cut shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group dropped their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Scotiabank cut their target price 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. Royal Bank Of Canada reduced their target price on shares of Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. One investment 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 given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.43.

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.