Kinross Gold Co. (NYSE:KGC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 19.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,209,979 shares of the mining company’s stock after selling 29,750,104 shares during the quarter. Kinross Gold accounts for about 1.4% of Van ECK Associates Corp’s investment portfolio, making the stock its 17th largest holding. Van ECK Associates Corp owned approximately 9.86% of Kinross Gold worth $1,008,475,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in Kinross Gold by 12.4% in the second quarter. Commonwealth Equity Services LLC now owns 90,542 shares of the mining company’s stock valued at $753,000 after acquiring an additional 9,973 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in Kinross Gold in the second quarter valued at approximately $40,000. Lee Danner & Bass Inc. purchased a new position in shares of Kinross Gold during the 2nd quarter valued at approximately $179,000. Panagora Asset Management Inc. purchased a new position in shares of Kinross Gold during the 2nd quarter valued at approximately $2,028,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Kinross Gold by 142.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,904,991 shares of the mining company’s stock valued at $15,857,000 after buying an additional 1,118,714 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC traded up $0.03 during trading hours on Friday, hitting $9.04. 10,957,483 shares of the stock were exchanged, compared to its average volume of 14,832,130. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52. The stock has a market cap of $11.11 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a 12 month low of $4.32 and a 12 month high of $9.58. The stock has a 50-day simple moving average of $8.75 and a 200-day simple moving average of $7.32.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.58 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, August 22nd. Kinross Gold’s payout ratio is 33.33%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Cormark upgraded Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Scotiabank increased their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. CIBC increased their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. BMO Capital Markets increased their target price on Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group increased their target price on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $9.33.

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.