Metis Global Partners LLC Sells 3,661 Shares of Kinross Gold Co. (NYSE:KGC)

Metis Global Partners LLC decreased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 47,970 shares of the mining company’s stock after selling 3,661 shares during the period. Metis Global Partners LLC’s holdings in Kinross Gold were worth $449,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new stake in Kinross Gold in the 2nd quarter worth $40,000. Bright Futures Wealth Management LLC. purchased a new stake in shares of Kinross Gold during the first quarter worth about $70,000. Fifth Third Bancorp grew its stake in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after purchasing an additional 9,375 shares during the last quarter. Blue Trust Inc. increased its holdings in Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after purchasing an additional 6,011 shares during the period. Finally, Corundum Trust Company INC bought a new position in Kinross Gold during the 3rd quarter valued at approximately $94,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the topic of a number of recent analyst reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Scotiabank raised their price target on 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 boosted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Kinross Gold Trading Up 5.4 %

NYSE KGC opened at $9.75 on Tuesday. The firm has a market capitalization of $11.98 billion, a PE ratio of 15.16, a P/E/G ratio of 0.45 and a beta of 1.22. The stock’s 50 day moving average is $9.81 and its 200 day moving average is $8.83. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. Research analysts forecast that Kinross Gold Co. will post 0.69 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. Shareholders of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

About Kinross Gold

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.