Zweig DiMenna Associates LLC Sells 500,000 Shares of Kinross Gold Co. (NYSE:KGC)

Zweig DiMenna Associates LLC reduced its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 73.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 180,000 shares of the mining company's stock after selling 500,000 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Kinross Gold were worth $1,685,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of KGC. International Assets Investment Management LLC bought a new stake in Kinross Gold in the third quarter valued at approximately $780,000. Corundum Trust Company INC bought a new stake in shares of Kinross Gold in the 3rd quarter valued at $94,000. Private Advisor Group LLC increased its position in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company's stock worth $115,000 after buying an additional 981 shares during the period. U S Global Investors Inc. raised its stake in Kinross Gold by 270.9% during the third quarter. U S Global Investors Inc. now owns 537,868 shares of the mining company's stock worth $5,034,000 after buying an additional 392,868 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in 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 buying an additional 3,405,478 shares during the period. Institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KGC. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. StockNews.com downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 25th. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Friday, October 4th. Finally, CIBC raised their target price on Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Kinross Gold has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

Kinross Gold Stock Down 2.0 %

Shares of KGC stock traded down $0.22 during trading hours on Friday, reaching $10.53. The company had a trading volume of 13,570,386 shares, compared to its average volume of 15,252,413. The business has a fifty day simple moving average of $9.51 and a 200-day simple moving average of $8.44. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $0.14 EPS. The business's revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Kinross Gold Co. will post 0.63 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.14%. Kinross Gold's dividend payout ratio is currently 29.27%.

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.