Kinross Gold Corporation $KGC Shares Sold by Wealthstar Advisors LLC

Wealthstar Advisors LLC trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 39.0% in the first quarter, Holdings Channel reports. The firm owned 31,805 shares of the mining company’s stock after selling 20,293 shares during the period. Wealthstar Advisors LLC’s holdings in Kinross Gold were worth $971,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold in the fourth quarter worth about $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold in the third quarter worth about $28,000. Harvest Fund Management Co. Ltd grew its stake in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. Finally, Elevated Capital Advisors LLC acquired a new stake in shares of Kinross Gold in the fourth quarter valued at about $36,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Down 0.1%

NYSE:KGC opened at $24.68 on Friday. The stock has a market cap of $29.34 billion, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 0.87 and a beta of 0.78. Kinross Gold Corporation has a one year low of $15.04 and a one year high of $39.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. The business’s 50-day simple moving average is $27.92 and its 200 day simple moving average is $30.69.

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

Kinross Gold Dividend Announcement

The firm also recently announced 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 dividend payout ratio is 6.78%.

Wall Street Analysts Forecast Growth

KGC has been the topic of several analyst reports. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Royal Bank Of Canada upgraded Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. UBS Group dropped their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Weiss Ratings cut shares of Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $37.94.

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.