Allspring Global Investments Holdings LLC Decreases Position in Kinross Gold Co. (NYSE:KGC)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 10.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,511,359 shares of the mining company's stock after selling 430,683 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of Kinross Gold worth $32,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in KGC. Creative Planning raised its position in shares of Kinross Gold by 12.0% during the 3rd quarter. Creative Planning now owns 71,945 shares of the mining company's stock worth $673,000 after acquiring an additional 7,689 shares in the last quarter. One Wealth Advisors LLC acquired a new position in Kinross Gold during the third quarter worth approximately $127,000. Blue Trust Inc. increased its position in Kinross Gold by 88.5% during the third quarter. Blue Trust Inc. now owns 21,351 shares of the mining company's stock worth $200,000 after buying an additional 10,024 shares during the period. Raymond James & Associates increased its position in Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock worth $3,186,000 after buying an additional 69,520 shares during the period. Finally, OLD National Bancorp IN increased its position in Kinross Gold by 43.7% during the third quarter. OLD National Bancorp IN now owns 16,433 shares of the mining company's stock worth $154,000 after buying an additional 4,999 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded down $0.03 during trading on Tuesday, reaching $11.25. The company had a trading volume of 14,823,256 shares, compared to its average volume of 21,978,635. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $12.28. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The stock's fifty day moving average price is $10.42 and its 200 day moving average price is $9.86.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted 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 net margin of 15.23% and a return on equity of 11.49%. As a group, equities research analysts predict that Kinross Gold Co. will post 0.73 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. Kinross Gold's dividend payout ratio (DPR) is presently 19.67%.

Analysts Set New Price Targets

KGC has been the topic of several research analyst reports. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. CIBC lifted their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of "Buy" and a consensus price target of $11.63.

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.