Magnetar Financial LLC Cuts Holdings in Kinross Gold Co. (NYSE:KGC)

Magnetar Financial LLC reduced its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 68.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,378 shares of the mining company's stock after selling 116,189 shares during the period. Magnetar Financial LLC's holdings in Kinross Gold were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. First Eagle Investment Management LLC grew its position in Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock valued at $116,898,000 after purchasing an additional 5,639,383 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Kinross Gold in the 3rd quarter worth about $14,193,000. Intact Investment Management Inc. boosted its position in shares of Kinross Gold by 4,059.9% during the fourth quarter. Intact Investment Management Inc. now owns 1,510,040 shares of the mining company's stock valued at $14,022,000 after buying an additional 1,473,740 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 purchasing an additional 1,398,225 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently weighed in on KGC. StockNews.com lowered shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 22nd. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, CIBC raised their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $11.63.

Kinross Gold Stock Performance

NYSE:KGC traded up $0.29 during mid-day trading on Thursday, hitting $12.49. 15,444,670 shares of the company traded hands, compared to its average volume of 17,248,636. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a one year low of $5.71 and a one year high of $12.61. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The stock's fifty day moving average price is $11.32 and its 200-day moving average price is $10.34.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly 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%. Research analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.96%. 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.