Wellington Management Group LLP Sells 428,436 Shares of Kinross Gold Co. (NYSE:KGC)

Wellington Management Group LLP lowered its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,010,736 shares of the mining company’s stock after selling 428,436 shares during the period. Wellington Management Group LLP owned about 0.08% of Kinross Gold worth $9,479,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of KGC. Atlas Capital Advisors LLC purchased a new position in shares of Kinross Gold in the second quarter valued at about $40,000. Fifth Third Bancorp grew its position in shares of Kinross Gold by 3,524.4% during 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 in the last quarter. Corundum Trust Company INC bought a new stake in Kinross Gold during the 3rd quarter valued at approximately $94,000. OneDigital Investment Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $94,000. Finally, Fiera Capital Corp bought a new position in Kinross Gold in the 3rd quarter worth approximately $99,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 2.8 %

KGC stock opened at $9.77 on Monday. The firm has a fifty day moving average price of $10.00 and a 200 day moving average price of $9.15. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The firm has a market cap of $12.01 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. 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 (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.12 earnings per share. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.23%. Kinross Gold’s payout ratio is currently 19.67%.

Analyst Ratings Changes

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