Kinross Gold Co. (NYSE:KGC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.9% during the third quarter, Holdings Channel.com reports. The fund owned 3,568,858 shares of the mining company’s stock after selling 146,398 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Kinross Gold were worth $33,468,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC boosted its stake in shares of Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after purchasing an additional 1,828 shares during the last quarter. First Hawaiian Bank acquired a new stake in shares of Kinross Gold during the 2nd quarter worth about $129,000. Fulton Bank N.A. acquired a new stake in shares of Kinross Gold during the 2nd quarter worth about $144,000. OLD National Bancorp IN acquired a new stake in shares of Kinross Gold during the 2nd quarter worth about $95,000. Finally, Artemis Investment Management LLP boosted its stake in shares of Kinross Gold by 321.5% during the 2nd quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after purchasing an additional 5,107,120 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC opened at $9.92 on Wednesday. The company’s 50 day simple moving average is $9.93 and its 200 day simple moving average is $9.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a market capitalization of $12.19 billion, a PE ratio of 16.26, a P/E/G ratio of 0.43 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts expect that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group raised 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 equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $11.13.

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.