Wellington Management Group LLP Sells 428,436 Shares of Kinross Gold Co. (NYSE:KGC)

Wellington Management Group LLP reduced its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 29.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,010,736 shares of the mining company's stock after selling 428,436 shares during the period. Wellington Management Group LLP owned 0.08% of Kinross Gold worth $9,479,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in KGC. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the second quarter worth about $40,000. Fifth Third Bancorp raised its position in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock valued at $80,000 after acquiring an additional 9,375 shares during the period. Corundum Trust Company INC bought a new position in Kinross Gold during the 3rd quarter worth approximately $94,000. OneDigital Investment Advisors LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $94,000. Finally, Fiera Capital Corp bought a new stake in Kinross Gold in the third quarter valued at approximately $99,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.2 %

Kinross Gold stock traded down $0.01 during midday trading on Monday, reaching $9.76. The stock had a trading volume of 20,871,451 shares, compared to its average volume of 15,515,509. The stock has a market capitalization of $11.99 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The firm's fifty day simple moving average is $10.00 and its 200-day simple moving average is $9.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The firm's revenue was up 29.9% on a year-over-year basis. As a group, analysts expect that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, November 27th. Kinross Gold's dividend payout ratio is currently 19.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Finally, Jefferies Financial Group increased 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. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $11.13.

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.