Van ECK Associates Corp lessened its holdings in shares of Kinross Gold Corporation (NYSE:KGC – Free Report) (TSE:K) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,886,755 shares of the mining company’s stock after selling 6,073,868 shares during the period. Kinross Gold makes up 2.4% of Van ECK Associates Corp’s holdings, making the stock its 6th biggest position. Van ECK Associates Corp owned approximately 0.08% of Kinross Gold worth $2,869,141,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. raised its holdings in shares of Kinross Gold by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 3,464,010 shares of the mining company’s stock worth $98,124,000 after purchasing an additional 220,382 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in shares of Kinross Gold during the fourth quarter worth $19,117,000. Wells Fargo & Company MN raised its holdings in shares of Kinross Gold by 4.9% during the fourth quarter. Wells Fargo & Company MN now owns 655,913 shares of the mining company’s stock worth $18,471,000 after purchasing an additional 30,840 shares during the last quarter. Sumitomo Life Insurance Co. purchased a new position in shares of Kinross Gold during the fourth quarter worth $2,826,000. Finally, Cape Ann Asset Management Ltd raised its holdings in shares of Kinross Gold by 0.9% during the fourth quarter. Cape Ann Asset Management Ltd now owns 3,538,238 shares of the mining company’s stock worth $99,637,000 after purchasing an additional 30,300 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on KGC. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. UBS Group cut their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday, March 27th. Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, TD Securities cut their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $38.81.
Kinross Gold Stock Up 2.8%
KGC stock opened at $25.56 on Friday. The stock has a market capitalization of $30.48 billion, a P/E ratio of 10.83, a P/E/G ratio of 0.88 and a beta of 0.71. The firm has a 50-day simple moving average of $30.23 and a 200-day simple moving average of $30.91. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52 week low of $14.71 and a 52 week high of $39.11.
Kinross Gold (NYSE:KGC – Get Free Report) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. Equities analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.
Kinross Gold Dividend Announcement
The business 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. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 6.78%.
Kinross Gold 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.
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