Metis Global Partners LLC Cuts Stake in Kinross Gold Co. (NYSE:KGC)

Metis Global Partners LLC cut its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.1% in the 3rd quarter, Holdings Channel.com reports. 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.

Several other large investors have also recently modified their holdings of the stock. Artemis Investment Management LLP increased its stake in 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 valued at $55,707,000 after purchasing an additional 5,107,120 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. National Bank of Canada FI raised its holdings in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after acquiring an additional 2,267,999 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Kinross Gold by 64.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock worth $29,115,000 after acquiring an additional 1,856,478 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Kinross Gold by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after acquiring an additional 1,777,076 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 5.4 %

KGC stock opened at $9.75 on Tuesday. The company has a market cap of $11.98 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The business’s 50-day moving average is $9.81 and its two-hundred day moving average is $8.83. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the business earned $0.12 EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, analysts forecast that Kinross Gold Co. will post 0.69 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Scotiabank upped their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

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.