Cibc World Markets Corp Sells 256,512 Shares of Kinross Gold Co. (NYSE:KGC)

Cibc World Markets Corp cut its holdings in Kinross Gold Co. (NYSE:KGCFree Report) (TSE:K) by 57.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,889 shares of the mining company’s stock after selling 256,512 shares during the period. Cibc World Markets Corp’s holdings in Kinross Gold were worth $1,161,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Gabelli Funds LLC lifted its stake in Kinross Gold by 7.6% in the fourth quarter. Gabelli Funds LLC now owns 5,340,900 shares of the mining company’s stock worth $32,312,000 after purchasing an additional 375,000 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Kinross Gold by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock valued at $790,000 after acquiring an additional 2,204 shares during the period. CIBC Asset Management Inc increased its position in shares of Kinross Gold by 183.9% in the fourth quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock valued at $26,990,000 after acquiring an additional 2,879,269 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Kinross Gold by 53.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,939,895 shares of the mining company’s stock valued at $36,010,000 after acquiring an additional 2,076,920 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Kinross Gold by 248.4% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock valued at $2,021,000 after acquiring an additional 238,219 shares during the period. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on KGC. TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Scotiabank boosted their price target on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.59.

View Our Latest Research Report on Kinross Gold

Kinross Gold Price Performance

Shares of KGC opened at $7.54 on Tuesday. The stock has a market cap of $9.27 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $8.27. The firm’s 50-day simple moving average is $7.16 and its two-hundred day simple moving average is $6.15.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The business’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.51 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.03 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.59%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Kinross Gold Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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