Artemis Investment Management LLP Sells 7,090,961 Shares of Kinross Gold Co. (NYSE:KGC)

Artemis Investment Management LLP trimmed its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 82.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,476,474 shares of the mining company’s stock after selling 7,090,961 shares during the quarter. Artemis Investment Management LLP owned 0.12% of Kinross Gold worth $13,687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Canoe Financial LP purchased a new stake in shares of Kinross Gold in the fourth quarter worth approximately $1,124,000. Avanza Fonder AB purchased a new stake in shares of Kinross Gold during the 4th quarter worth $1,197,000. Ritholtz Wealth Management boosted its holdings in shares of Kinross Gold by 31.0% in the 4th quarter. Ritholtz Wealth Management now owns 194,140 shares of the mining company’s stock valued at $1,800,000 after buying an additional 45,911 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Kinross Gold in the fourth quarter worth $337,000. Finally, Assenagon Asset Management S.A. increased its position in Kinross Gold by 105.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 551,213 shares of the mining company’s stock valued at $5,113,000 after buying an additional 283,160 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Price Performance

Kinross Gold stock opened at $10.31 on Monday. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 0.51 and a beta of 1.21. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $9.50. 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 (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. On average, equities analysts anticipate that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

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.