OLD National Bancorp IN Sells 1,318 Shares of Kinross Gold Co. (NYSE:KGC)

OLD National Bancorp IN lowered its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,115 shares of the mining company’s stock after selling 1,318 shares during the quarter. OLD National Bancorp IN’s holdings in Kinross Gold were worth $140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after buying an additional 642,007 shares in the last quarter. National Bank of Canada FI raised its stake in shares of Kinross Gold by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after acquiring an additional 70,376 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in Kinross Gold by 28.0% in the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after purchasing an additional 1,871,939 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Kinross Gold by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock worth $66,509,000 after purchasing an additional 480,568 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Kinross Gold by 8.6% during the third quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock valued at $56,705,000 after purchasing an additional 477,529 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Down 1.8 %

KGC stock opened at $11.29 on Monday. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $11.67. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market cap of $13.87 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 0.60 and a beta of 1.21. The business’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for 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%. Kinross Gold’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. On average, research analysts anticipate that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed 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 1.06%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $11.13.

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.