Canada Pension Plan Investment Board Sells 427,900 Shares of Kinross Gold Co. (NYSE:KGC)

Canada Pension Plan Investment Board lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,098,278 shares of the mining company’s stock after selling 427,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Kinross Gold were worth $38,013,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signaturefd LLC raised its stake in shares of Kinross Gold by 2.2% during the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock valued at $381,000 after acquiring an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of Kinross Gold by 30.4% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Kinross Gold by 2.4% during the 4th quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock valued at $423,000 after purchasing an additional 1,079 shares during the period. Schechter Investment Advisors LLC raised its position in Kinross Gold by 2.8% during the 4th quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after purchasing an additional 1,080 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its holdings in Kinross Gold by 4.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after buying an additional 1,106 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 1.6 %

Shares of KGC stock opened at $14.80 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. Kinross Gold Co. has a one year low of $6.34 and a one year high of $15.34. The company’s fifty day moving average price is $12.11 and its 200-day moving average price is $10.82. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 0.68 and a beta of 1.12.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Sell-side analysts expect that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday. They issued an “outperform” rating for the company. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC increased their target price on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Raymond James upped their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and a consensus price target of $13.30.

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.