PCJ Investment Counsel Ltd. Reduces Stock Holdings in Kinross Gold Co. (NYSE:KGC)

PCJ Investment Counsel Ltd. decreased its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 40.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,780 shares of the mining company's stock after selling 138,440 shares during the period. PCJ Investment Counsel Ltd.'s holdings in Kinross Gold were worth $1,872,000 as of its most recent SEC filing.

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

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Analysts Set New Price Targets

A number of research firms have commented on KGC. StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th. CIBC upped their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.63.

Kinross Gold Stock Up 4.4 %

NYSE:KGC traded up $0.46 during midday trading on Tuesday, reaching $11.02. The company had a trading volume of 8,046,553 shares, compared to its average volume of 22,610,781. The stock's fifty day simple moving average is $10.87 and its 200-day simple moving average is $10.09. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $5.36 and a 12-month high of $12.28. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 0.68 and a beta of 1.29.

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 analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, March 5th. Kinross Gold's dividend payout ratio is presently 15.58%.

About Kinross Gold

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.