Kinross Gold Co. (NYSE:KGC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 541,028 shares of the mining company’s stock after selling 14,430 shares during the quarter. Wellington Management Group LLP’s holdings in Kinross Gold were worth $3,291,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mariner LLC increased its stake in Kinross Gold by 29.0% in the third quarter. Mariner LLC now owns 114,469 shares of the mining company’s stock valued at $522,000 after purchasing an additional 25,729 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Kinross Gold by 2,621.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 516,064 shares of the mining company’s stock worth $2,353,000 after buying an additional 497,100 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Kinross Gold in the 3rd quarter worth $119,000. Scotia Capital Inc. boosted its holdings in Kinross Gold by 84.4% in the third quarter. Scotia Capital Inc. now owns 320,882 shares of the mining company’s stock valued at $1,455,000 after acquiring an additional 146,897 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Kinross Gold by 14.4% during the third quarter. Schroder Investment Management Group now owns 3,211,063 shares of the mining company’s stock valued at $14,642,000 after acquiring an additional 405,273 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $8.32 on Monday. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $8.40. The business has a 50 day moving average price of $7.51 and a two-hundred day moving average price of $6.34. The firm has a market cap of $10.23 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 0.54 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Sell-side analysts expect that Kinross Gold Co. will post 0.52 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KGC shares. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. BMO Capital Markets increased their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Scotiabank upped their target price on Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Finally, Jefferies Financial Group raised their target price on Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.59.

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.