Raymond James Financial Services Advisors Inc. Has $1.97 Million Stock Position in Kinross Gold Co. (NYSE:KGC)

Raymond James Financial Services Advisors Inc. reduced its position in Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) by 14.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 482,430 shares of the mining company’s stock after selling 78,885 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Kinross Gold were worth $1,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 44,115,866 shares of the mining company’s stock valued at $165,876,000 after buying an additional 1,717,190 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Kinross Gold by 374.2% during the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock worth $68,230,000 after purchasing an additional 9,285,284 shares during the period. National Bank of Canada FI grew its stake in shares of Kinross Gold by 761.8% during the fourth quarter. National Bank of Canada FI now owns 9,685,769 shares of the mining company’s stock worth $39,503,000 after purchasing an additional 8,561,904 shares during the period. Wellington Management Group LLP grew its stake in shares of Kinross Gold by 2.6% during the first quarter. Wellington Management Group LLP now owns 8,930,286 shares of the mining company’s stock worth $52,500,000 after purchasing an additional 222,597 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Kinross Gold by 28.7% during the second quarter. Goldman Sachs Group Inc. now owns 7,396,899 shares of the mining company’s stock worth $26,482,000 after purchasing an additional 1,648,223 shares during the period. 55.58% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC stock opened at $4.88 on Thursday. The company’s fifty day simple moving average is $4.96 and its 200 day simple moving average is $4.46. Kinross Gold Co. has a 12-month low of $3.00 and a 12-month high of $5.57. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 488.00 and a beta of 0.93. The company has a quick ratio of 0.71, a current ratio of 1.72 and a debt-to-equity ratio of 0.36.

Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last announced its quarterly earnings data on Tuesday, May 9th. The mining company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Kinross Gold had a net margin of 0.24% and a return on equity of 4.95%. The firm had revenue of $929.30 million for the quarter, compared to analyst estimates of $957.31 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, analysts expect that Kinross Gold Co. will post 0.33 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.46%. Kinross Gold’s dividend payout ratio is presently 1,200.00%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Securities decreased their target price on Kinross Gold from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Raymond James upped their target price on Kinross Gold from $4.50 to $5.00 and gave the stock a “market perform” rating in a report on Tuesday, January 31st. Bank of America lowered Kinross Gold from a “buy” rating to an “underperform” rating and set a $4.70 target price on the stock. in a report on Wednesday, April 5th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Finally, Barclays lowered Kinross Gold from an “overweight” rating to an “equal weight” rating and set a $5.00 target price on the stock. in a report on Monday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.33.

About Kinross Gold

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Kinross Gold Corp. engages in the production, acquisition, exploration, and development of gold properties. Its mining operations are in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. The firm operates through the following business segments: Fort Knox, Round Mountain, Bald Mountain, Kupol, Paracatu, Tasiast, Chirano, and Corporate & Other.