Kinross Gold Corporation $KGC Holdings Cut by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,886,755 shares of the mining company’s stock after selling 6,073,868 shares during the quarter. Kinross Gold makes up approximately 2.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 6th biggest holding. Van ECK Associates Corp owned about 8.49% of Kinross Gold worth $2,869,141,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitlin John LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Financial Management Professionals Inc. acquired a new stake in Kinross Gold in the fourth quarter valued at approximately $26,000. Virtus Advisers LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $28,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Up 2.8%

NYSE:KGC opened at $25.56 on Friday. Kinross Gold Corporation has a 12 month low of $14.71 and a 12 month high of $39.11. The firm has a fifty day simple moving average of $30.23 and a 200-day simple moving average of $30.91. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $30.48 billion, a P/E ratio of 10.83, a PEG ratio of 0.88 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, equities research analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

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