Royal Bank of Canada Sells 1,840,139 Shares of Kinross Gold Corporation $KGC

Royal Bank of Canada trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,360,663 shares of the mining company’s stock after selling 1,840,139 shares during the period. Royal Bank of Canada owned approximately 2.53% of Kinross Gold worth $854,956,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Kinross Gold in the 4th quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold during the 4th quarter valued at $26,000. Caitlin John LLC purchased a new stake in Kinross Gold in the 3rd quarter worth about $26,000. Virtus Advisers LLC purchased a new stake in Kinross Gold in the 3rd quarter worth about $28,000. Finally, Elevated Capital Advisors LLC purchased a new stake in Kinross Gold in the 4th quarter worth about $36,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Up 2.5%

Kinross Gold stock opened at $28.02 on Wednesday. The stock has a market cap of $33.41 billion, a P/E ratio of 11.87, a PEG ratio of 0.97 and a beta of 0.71. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The firm’s 50 day moving average price is $30.07 and its 200-day moving average price is $30.96.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. Kinross Gold’s revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s payout ratio is presently 6.78%.

Analyst Ratings Changes

Several brokerages have commented on KGC. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Friday, May 1st. Weiss Ratings downgraded Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, TD Securities reduced their target price on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.81.

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.