Hoey Investments Inc. Sells 5,625 Shares of Kinross Gold Co. (NYSE:KGC)

Hoey Investments Inc. lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,625 shares of the mining company’s stock after selling 5,625 shares during the period. Hoey Investments Inc.’s holdings in Kinross Gold were worth $52,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of KGC. SCP Investment LP purchased a new position in Kinross Gold during the fourth quarter valued at approximately $156,000. Schroder Investment Management Group raised its position in shares of Kinross Gold by 2.8% in the fourth quarter. Schroder Investment Management Group now owns 3,277,665 shares of the mining company’s stock valued at $30,056,000 after buying an additional 87,822 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new position in shares of Kinross Gold during the 4th quarter worth approximately $758,000. Orion Portfolio Solutions LLC increased its stake in shares of Kinross Gold by 106.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 31,789 shares of the mining company’s stock worth $295,000 after acquiring an additional 16,418 shares during the last quarter. Finally, denkapparat Operations GmbH acquired a new position in Kinross Gold in the 4th quarter valued at about $383,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of several recent analyst reports. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 22nd. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC boosted their price objective 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. Finally, Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Trading Down 0.1 %

Shares of NYSE KGC opened at $12.50 on Monday. The company has a market cap of $15.37 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The stock’s 50 day simple moving average is $11.40 and its 200 day simple moving average is $10.40. Kinross Gold Co. has a 12-month low of $6.13 and a 12-month high of $12.90. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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%. Equities research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.96%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Kinross Gold Company 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.