Euro Pacific Asset Management LLC Cuts Position in Kinross Gold Co. (NYSE:KGC)

Euro Pacific Asset Management LLC trimmed its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 19.2% during the 4th quarter, Holdings Channel reports. The fund owned 1,122,441 shares of the mining company’s stock after selling 265,902 shares during the period. Kinross Gold makes up approximately 2.3% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Euro Pacific Asset Management LLC’s holdings in Kinross Gold were worth $10,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 purchasing an additional 642,007 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after acquiring an additional 643,013 shares during the last quarter. National Bank of Canada FI grew its position in Kinross Gold by 0.7% in the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after acquiring an additional 70,376 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Kinross Gold by 25.5% during the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after acquiring an additional 1,777,076 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after purchasing an additional 1,871,939 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of KGC stock opened at $10.69 on Friday. The stock has a 50 day moving average price of $9.87 and a 200 day moving average price of $9.54. The firm has a market capitalization of $13.13 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82.

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 analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. As a group, sell-side analysts predict that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.12%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Wall Street Analyst Weigh In

KGC has been the topic of several analyst reports. Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and a consensus target price of $11.13.

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.