Van ECK Associates Corp Cuts Holdings in Kinross Gold Co. (NYSE:KGC)

Van ECK Associates Corp lessened its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,860,292 shares of the mining company’s stock after selling 5,125,353 shares during the period. Kinross Gold accounts for 1.5% of Van ECK Associates Corp’s portfolio, making the stock its 10th largest holding. Van ECK Associates Corp owned 11.23% of Kinross Gold worth $834,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of KGC. Bruce G. Allen Investments LLC acquired a new position in shares of Kinross Gold during the 4th quarter worth about $26,000. CWM LLC lifted its holdings in shares of Kinross Gold by 353.2% during the third quarter. CWM LLC now owns 7,378 shares of the mining company’s stock worth $34,000 after buying an additional 5,750 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Kinross Gold in the fourth quarter valued at approximately $44,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Kinross Gold in the fourth quarter worth $53,000. Finally, SCP Investment LP increased its position in Kinross Gold by 59.3% during the third quarter. SCP Investment LP now owns 18,800 shares of the mining company’s stock worth $86,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC traded up $0.09 during mid-day trading on Monday, reaching $6.84. The company had a trading volume of 13,533,014 shares, compared to its average volume of 14,569,760. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The company has a market capitalization of $8.39 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.09 and a beta of 1.15. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $6.87. The company’s 50-day moving average is $5.83 and its 200-day 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Co. will post 0.4 EPS for the current year.

Kinross Gold Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.