Donald Smith & CO. Inc. Sells 1,818,139 Shares of Kinross Gold Co. (NYSE:KGC)

Donald Smith & CO. Inc. reduced its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 12,586,718 shares of the mining company’s stock after selling 1,818,139 shares during the period. Kinross Gold comprises 2.0% of Donald Smith & CO. Inc.’s portfolio, making the stock its 21st biggest holding. Donald Smith & CO. Inc.’s holdings in Kinross Gold were worth $76,150,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bruce G. Allen Investments LLC bought a new stake in Kinross Gold in the 4th quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Kinross Gold in the fourth quarter worth $44,000. CWM LLC increased its position in Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after acquiring an additional 5,750 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in Kinross Gold in the fourth quarter valued at about $53,000. Finally, Cornerstone Wealth Management LLC purchased a new position in Kinross Gold in the fourth quarter worth about $104,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KGC shares. Jefferies Financial Group upped their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, February 16th. StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Finally, CIBC upped their price target on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.44.

Kinross Gold Price Performance

KGC traded up $0.09 on Monday, hitting $6.84. 13,533,014 shares of the company’s stock traded hands, compared to its average volume of 14,569,760. Kinross Gold Co. has a one year low of $4.32 and a one year high of $6.87. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.39 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 2.09 and a beta of 1.15. The company’s 50 day simple moving average is $5.83 and its 200-day simple moving average is $5.66.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $0.09 earnings per share. Kinross Gold’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that Kinross Gold Co. will post 0.4 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.76%. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

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.