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

Cibc World Markets Corp trimmed its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 67.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,000 shares of the mining company's stock after selling 351,900 shares during the quarter. Cibc World Markets Corp's holdings in Kinross Gold were worth $1,576,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after purchasing an additional 1,412 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Kinross Gold in the 4th quarter valued at $42,000. Global Retirement Partners LLC raised its holdings in Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock worth $50,000 after purchasing an additional 4,788 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock valued at $67,000 after acquiring an additional 5,140 shares in the last quarter. Finally, Valley National Advisers Inc. acquired a new stake in shares of Kinross Gold in the 4th quarter worth $92,000. Institutional investors own 63.69% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KGC. StockNews.com downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. CIBC increased their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Finally, Stifel Canada raised shares of 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 issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $11.63.

Kinross Gold Stock Performance

NYSE:KGC traded down $0.11 during mid-day trading on Wednesday, reaching $12.20. The stock had a trading volume of 9,144,978 shares, compared to its average volume of 17,232,799. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The business has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $10.32. Kinross Gold Co. has a twelve month low of $5.67 and a twelve month high of $12.59. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders 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 annualized dividend and a dividend yield of 0.98%. Kinross Gold's dividend payout ratio is currently 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.