Kinross Gold Corporation $KGC Shares Sold by Cape Ann Asset Management Ltd

Cape Ann Asset Management Ltd reduced its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,507,938 shares of the mining company’s stock after selling 41,700 shares during the period. Kinross Gold accounts for about 29.4% of Cape Ann Asset Management Ltd’s portfolio, making the stock its biggest position. Cape Ann Asset Management Ltd’s holdings in Kinross Gold were worth $87,172,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. GPS Wealth Strategies Group LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Kinross Gold in the third quarter valued at about $31,000. Armstrong Advisory Group Inc. boosted its holdings in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after acquiring an additional 717 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Kinross Gold during the third quarter worth about $40,000. Finally, Mather Group LLC. acquired a new position in shares of Kinross Gold during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.1%

NYSE KGC opened at $33.42 on Friday. Kinross Gold Corporation has a 1 year low of $10.32 and a 1 year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.68. The company has a market capitalization of $40.10 billion, a PE ratio of 17.05, a P/E/G ratio of 0.36 and a beta of 0.74. The company has a fifty day moving average of $32.18 and a 200 day moving average of $26.59.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm’s revenue for the quarter was up 42.9% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. Research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. Kinross Gold’s dividend payout ratio is presently 7.14%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KGC shares. Desjardins started coverage on shares of Kinross Gold in a research note on Friday, November 28th. They issued a “buy” rating for the company. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price objective on shares of Kinross Gold in a report on Sunday, December 7th. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Scotiabank lifted their price target on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, UBS Group set a $43.00 price objective on Kinross Gold in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $34.81.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.