Westerkirk Capital Inc. Sells 35,200 Shares of Kinross Gold Corporation $KGC

Westerkirk Capital Inc. reduced its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 62.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,200 shares of the mining company’s stock after selling 35,200 shares during the quarter. Westerkirk Capital Inc.’s holdings in Kinross Gold were worth $597,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Caitlin John LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Kinross Gold in the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new stake in shares of Kinross Gold in the 4th quarter worth approximately $26,000. Virtus Advisers LLC bought a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $28,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Kinross Gold by 85.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after buying an additional 589 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Trading Down 2.4%

NYSE KGC opened at $25.24 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a twelve month low of $14.71 and a twelve month high of $39.11. The firm has a market capitalization of $30.10 billion, a PE ratio of 10.69, a P/E/G ratio of 0.91 and a beta of 0.71. The stock’s 50 day moving average is $30.57 and its 200 day moving average is $30.95.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm’s revenue was up 60.8% on a year-over-year basis. Research analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 6.78%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KGC shares. Weiss Ratings lowered Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 3rd. ATB Cormark Capital Markets upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. UBS Group cut their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. TD Securities cut their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $38.81.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.