Cape Ann Asset Management Ltd Sells 281,325 Shares of Kinross Gold Co. (NYSE:KGC)

Cape Ann Asset Management Ltd reduced its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,587,338 shares of the mining company’s stock after selling 281,325 shares during the period. Kinross Gold comprises about 21.0% of Cape Ann Asset Management Ltd’s investment portfolio, making the stock its biggest position. Cape Ann Asset Management Ltd’s holdings in Kinross Gold were worth $33,255,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in KGC. Van ECK Associates Corp boosted its position in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Kinross Gold in the third quarter valued at about $14,193,000. Toronto Dominion Bank boosted its position in Kinross Gold by 115.7% in the third quarter. Toronto Dominion Bank now owns 2,078,490 shares of the mining company’s stock valued at $19,455,000 after buying an additional 1,114,801 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Kinross Gold by 326.6% in the third quarter. BNP Paribas Financial Markets now owns 1,304,595 shares of the mining company’s stock valued at $12,211,000 after buying an additional 998,763 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after buying an additional 828,456 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. CIBC boosted their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $11.63.

Kinross Gold Trading Up 0.3 %

Shares of NYSE KGC opened at $10.75 on Tuesday. Kinross Gold Co. has a 1-year low of $5.14 and a 1-year high of $12.28. The company has a market cap of $13.21 billion, a PE ratio of 13.96, a P/E/G ratio of 0.68 and a beta of 1.24. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $10.70 and a two-hundred day moving average of $10.02.

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

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

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.