Kinross Gold Co. (NYSE:KGC) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lowered its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 84.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,000 shares of the mining company’s stock after selling 526,762 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Kinross Gold were worth $900,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Advisors LLC boosted its holdings in Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after buying an additional 1,828 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of Kinross Gold during the 2nd quarter worth approximately $95,000. Artemis Investment Management LLP grew its holdings in shares of Kinross Gold by 321.5% in the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares during the period. Blue Trust Inc. grew its holdings in shares of Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after acquiring an additional 6,011 shares during the period. Finally, Raymond James & Associates increased its stake in Kinross Gold by 26.3% in the 2nd quarter. Raymond James & Associates now owns 270,875 shares of the mining company’s stock valued at $2,254,000 after purchasing an additional 56,324 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KGC has been the topic of several research reports. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Trading Down 0.3 %

Shares of KGC stock opened at $9.91 on Friday. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.45 and a beta of 1.21. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $9.94 and a 200 day moving average price of $9.06. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Research analysts forecast that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

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.