JPMorgan Chase & Co. reduced its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,645,721 shares of the mining company's stock after selling 2,562,563 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.95% of Kinross Gold worth $109,004,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Kinross Gold by 634.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company's stock valued at $36,971,000 after purchasing an additional 3,405,478 shares in the last quarter. National Bank of Canada FI increased its position in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock worth $78,946,000 after acquiring an additional 2,267,999 shares during the period. Artemis Investment Management LLP increased its position in shares of Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company's stock worth $80,191,000 after acquiring an additional 1,871,939 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company's stock valued at $72,867,000 after acquiring an additional 1,777,076 shares in the last quarter. Finally, Andra AP fonden purchased a new position in Kinross Gold in the second quarter valued at $13,181,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $11.13.
Get Our Latest Stock Analysis on KGC
Kinross Gold Stock Up 6.6 %
Shares of KGC traded up $0.61 during mid-day trading on Thursday, reaching $9.88. The company's stock had a trading volume of 20,390,838 shares, compared to its average volume of 15,499,971. The company's 50 day moving average is $9.80 and its 200 day moving average is $9.30. The stock has a market cap of $12.14 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. 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 (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the company earned $0.12 earnings per share. The firm's revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.
Kinross Gold Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. Kinross Gold's dividend payout ratio (DPR) is presently 19.67%.
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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