Kinross Gold Co. (NYSE:KGC) Shares Sold by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd lessened its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,868,663 shares of the mining company’s stock after selling 19,200 shares during the quarter. Kinross Gold makes up about 24.8% of Cape Ann Asset Management Ltd’s portfolio, making the stock its 2nd biggest position. Cape Ann Asset Management Ltd owned about 0.31% of Kinross Gold worth $36,211,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KGC. Private Advisor Group LLC raised its holdings in shares of Kinross Gold by 8.7% in the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after purchasing an additional 981 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock valued at $447,000 after purchasing an additional 1,235 shares in the last quarter. Cetera Advisors LLC increased its stake in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after buying an additional 2,180 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after buying an additional 2,200 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

KGC has been the topic of a number of recent research reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank increased their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Kinross Gold Stock Performance

KGC opened at $10.22 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The business has a 50 day moving average of $9.89 and a 200-day moving average of $8.93. The stock has a market cap of $12.56 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.50 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities research analysts expect that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Kinross Gold Company Profile

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.