Smith Group Asset Management LLC lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC – Free Report) (TSE:K) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 875,037 shares of the mining company’s stock after selling 9,420 shares during the quarter. Smith Group Asset Management LLC owned approximately 0.07% of Kinross Gold worth $8,190,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after acquiring an additional 497,531 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Kinross Gold in the first quarter valued at about $1,095,000. Gabelli Funds LLC boosted its holdings in shares of Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after buying an additional 194,700 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Kinross Gold in the 1st quarter valued at about $3,199,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Kinross Gold by 84.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,635,418 shares of the mining company’s stock valued at $10,042,000 after acquiring an additional 748,277 shares during the period. Institutional investors own 63.69% of the company’s stock.
Kinross Gold Price Performance
Shares of NYSE:KGC opened at $10.46 on Tuesday. The stock has a market capitalization of $12.86 billion, a PE ratio of 25.51, a PEG ratio of 0.55 and a beta of 1.24. The firm has a 50 day moving average of $9.53 and a 200-day moving average of $8.50. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.
Kinross Gold Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Kinross Gold’s payout ratio is presently 29.27%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group increased their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. CIBC boosted their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.
Check Out Our Latest Research Report on KGC
Kinross Gold 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.
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