Cibc World Markets Corp Reduces Holdings in Kinross Gold Co. (NYSE:KGC)

Cibc World Markets Corp reduced its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 67.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Kinross Gold during the 4th quarter valued at approximately $42,000. Global Retirement Partners LLC grew its position in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after buying an additional 4,788 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the last quarter. Finally, Valley National Advisers Inc. acquired a new stake in Kinross Gold in the fourth quarter valued at $92,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KGC shares. CIBC boosted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $11.63.

Kinross Gold Price Performance

KGC opened at $12.17 on Friday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $10.25. Kinross Gold Co. has a fifty-two week low of $5.64 and a fifty-two week high of $12.39. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly 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%. As a group, sell-side analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s payout ratio is 15.58%.

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.