Janney Montgomery Scott LLC Has $1.39 Million Stock Holdings in Kinross Gold Corporation $KGC

Janney Montgomery Scott LLC trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 11.7% during the second quarter, HoldingsChannel.com reports. The firm owned 88,697 shares of the mining company’s stock after selling 11,808 shares during the period. Janney Montgomery Scott LLC’s holdings in Kinross Gold were worth $1,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Kinross Gold by 95.7% in the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after acquiring an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Kinross Gold by 21.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock worth $4,076,000 after acquiring an additional 57,966 shares during the period. Sprott Inc. lifted its stake in shares of Kinross Gold by 1.7% in the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after acquiring an additional 48,905 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company’s stock worth $86,718,000 after acquiring an additional 5,400,447 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Kinross Gold by 264.7% in the first quarter. Bessemer Group Inc. now owns 155,422 shares of the mining company’s stock worth $1,960,000 after acquiring an additional 112,800 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KGC shares. Canaccord Genuity Group lifted their price objective on Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. TD Securities lifted their price objective on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Kinross Gold in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $25.19.

Kinross Gold Trading Down 0.2%

Shares of KGC stock opened at $24.24 on Monday. The company has a market cap of $29.38 billion, a P/E ratio of 19.54, a PEG ratio of 0.77 and a beta of 0.64. The stock has a 50 day simple moving average of $21.81 and a two-hundred day simple moving average of $17.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $25.91.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue for the quarter was up 41.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s payout ratio is currently 9.68%.

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.