First Eagle Investment Management LLC Sells 726,000 Shares of Kinross Gold Corporation $KGC

First Eagle Investment Management LLC lessened its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.2% in the second quarter, Holdings Channel reports. The institutional investor owned 6,414,993 shares of the mining company’s stock after selling 726,000 shares during the quarter. First Eagle Investment Management LLC’s holdings in Kinross Gold were worth $151,522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ascentis Independent Advisors bought a new position in shares of Kinross Gold in the first quarter valued at approximately $29,000. Virtus Advisers LLC bought a new stake in Kinross Gold during the 3rd quarter worth approximately $28,000. Continuum Advisory LLC purchased a new stake in Kinross Gold in the 2nd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd lifted its stake in Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after purchasing an additional 589 shares in the last quarter. Finally, Caitlin John LLC boosted its holdings 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 purchasing an additional 400 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on KGC shares. Weiss Ratings lowered shares of Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Freedom Capital upgraded Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group dropped their price objective on Kinross Gold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Wall Street Zen cut Kinross Gold from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.43.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $30.87 on Monday. Kinross Gold Corporation has a 1 year low of $21.61 and a 1 year high of $39.11. The firm has a market cap of $36.57 billion, a PE ratio of 11.69, a PEG ratio of 0.83 and a beta of 0.84. 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 company has a 50 day simple moving average of $26.38 and a two-hundred day simple moving average of $28.97.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 37.52% and a return on equity of 34.00%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. Analysts expect that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Kinross Gold Company Profile

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.