Bank of Nova Scotia lowered its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,360,358 shares of the mining company's stock after selling 1,980,017 shares during the quarter. Bank of Nova Scotia owned about 0.68% of Kinross Gold worth $77,631,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after buying an additional 44,610,091 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Kinross Gold by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock worth $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Norges Bank acquired a new position in shares of Kinross Gold during the fourth quarter valued at $280,697,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock valued at $136,028,000 after acquiring an additional 1,398,225 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Kinross Gold by 15.4% in the fourth quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company's stock worth $124,578,000 after purchasing an additional 1,793,065 shares during the period. Institutional investors own 63.69% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. CIBC raised their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 4th. Finally, Raymond James upped their price target on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Friday, April 4th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $12.30.
Read Our Latest Stock Report on Kinross Gold
Kinross Gold Stock Performance
KGC traded up $0.22 during trading on Monday, hitting $14.60. The stock had a trading volume of 7,376,673 shares, compared to its average volume of 17,691,139. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm has a market cap of $17.96 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 0.68 and a beta of 1.12. The company has a 50 day moving average price of $11.83 and a 200-day moving average price of $10.65. Kinross Gold Co. has a one year low of $6.20 and a one year high of $14.67.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. As a group, research analysts predict that Kinross Gold Co. will post 0.81 EPS for the current year.
Kinross Gold Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. Kinross Gold's dividend payout ratio (DPR) is currently 15.58%.
About Kinross Gold
(
Free Report)
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.
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