Silvercrest Asset Management Group LLC Decreases Stock Position in Kinross Gold Co. (NYSE:KGC)

Silvercrest Asset Management Group LLC cut its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,085 shares of the mining company’s stock after selling 3,000 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Kinross Gold were worth $160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $44,000. Advisor Resource Council purchased a new position in Kinross Gold in the 1st quarter valued at about $60,000. Sivia Capital Partners LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $63,000. UniSuper Management Pty Ltd lifted its holdings in Kinross Gold by 95.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 17,400 shares of the mining company’s stock valued at $107,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in Kinross Gold in the 4th quarter valued at about $108,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the topic of a number of recent research reports. CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank upped their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets upped their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.57.

Kinross Gold Stock Up 3.9 %

KGC opened at $9.09 on Thursday. The firm has a 50 day moving average price of $8.24 and a 200 day moving average price of $6.79. The company has a market cap of $11.17 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a 1 year low of $4.32 and a 1 year high of $9.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. Kinross Gold’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. Sell-side analysts expect that Kinross Gold Co. will post 0.57 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.32%. Kinross Gold’s dividend payout ratio is currently 33.33%.

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.