Kinross Gold Co. (NYSE:KGC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,860,292 shares of the mining company’s stock after selling 5,125,353 shares during the period. Kinross Gold makes up approximately 1.5% of Van ECK Associates Corp’s investment portfolio, making the stock its 10th largest position. Van ECK Associates Corp owned about 0.11% of Kinross Gold worth $834,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of KGC. Bruce G. Allen Investments LLC bought a new position in Kinross Gold in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Kinross Gold during the 4th quarter worth $44,000. CWM LLC boosted its stake in Kinross Gold by 353.2% in the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after buying an additional 5,750 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in Kinross Gold in the fourth quarter valued at about $53,000. Finally, Cornerstone Wealth Management LLC acquired a new position in Kinross Gold during the fourth quarter worth about $104,000. 63.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KGC shares. CIBC raised their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. TheStreet downgraded shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group raised their price objective on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.44.

Kinross Gold Trading Up 1.4 %

Shares of NYSE:KGC traded up $0.09 during mid-day trading on Monday, reaching $6.84. 13,533,014 shares of the company’s stock were exchanged, compared to its average volume of 14,569,760. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $6.87. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.09 and a beta of 1.15. The business’s fifty day moving average price is $5.83 and its 200-day moving average price is $5.66.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, research analysts predict that Kinross Gold Co. will post 0.4 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.76%. Kinross Gold’s payout ratio is 35.29%.

About Kinross Gold

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.