Kinross Gold Co. (NYSE:KGC) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp cut its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 67.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,000 shares of the mining company’s stock after selling 351,900 shares during the period. Cibc World Markets Corp’s holdings in Kinross Gold were worth $1,576,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. First Eagle Investment Management LLC raised its stake in shares of Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Kinross Gold in the third quarter worth about $14,193,000. Intact Investment Management Inc. increased its stake in Kinross Gold by 4,059.9% during the 4th quarter. Intact Investment Management Inc. now owns 1,510,040 shares of the mining company’s stock valued at $14,022,000 after buying an additional 1,473,740 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after buying an additional 1,398,225 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 1.3 %

Shares of NYSE:KGC opened at $12.17 on Friday. The stock has a market capitalization of $14.95 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 0.68 and a beta of 1.29. Kinross Gold Co. has a 1-year low of $5.64 and a 1-year high of $12.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a 50 day moving average price of $11.21 and a 200 day moving average price of $10.25.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, research analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of research analyst reports. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, CIBC increased their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average target price of $11.63.

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.