Kinross Gold Co. (NYSE:KGC) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 63.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,530 shares of the mining company’s stock after selling 6,088 shares during the period. Gulf International Bank UK Ltd’s holdings in Kinross Gold were worth $33,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Atlas Capital Advisors LLC purchased a new stake in Kinross Gold during the second quarter worth about $40,000. Bright Futures Wealth Management LLC. acquired a new stake in shares of Kinross Gold during the 1st quarter valued at approximately $70,000. Fifth Third Bancorp boosted its stake in shares of Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares in the last quarter. 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, Corundum Trust Company INC acquired a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $94,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on KGC shares. Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Scotiabank boosted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Trading Down 2.1 %

Shares of KGC stock opened at $10.47 on Friday. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.50 and a beta of 1.22. The company has a current ratio of 1.61, a quick ratio of 0.52 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $9.74 and a 200 day moving average price of $8.71. 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 posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business posted $0.12 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. Research analysts forecast that Kinross Gold Co. will post 0.66 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

Kinross Gold 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.