Cannell & Spears LLC Sells 38,564 Shares of Kinross Gold Co. (NYSE:KGC)

Cannell & Spears LLC lessened its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,538 shares of the mining company’s stock after selling 38,564 shares during the period. Cannell & Spears LLC’s holdings in Kinross Gold were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd bought a new position in shares of Kinross Gold in the fourth quarter valued at about $2,506,000. Truist Financial Corp raised its holdings in Kinross Gold by 48.2% in the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after acquiring an additional 98,196 shares during the period. Geode Capital Management LLC lifted its position in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after acquiring an additional 828,456 shares during the last quarter. DJE Kapital AG bought a new stake in shares of Kinross Gold during the fourth quarter worth approximately $3,723,000. Finally, Amundi grew its position in shares of Kinross Gold by 9.3% in the fourth quarter. Amundi now owns 5,794,489 shares of the mining company’s stock valued at $53,715,000 after purchasing an additional 492,611 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.0 %

KGC opened at $12.62 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a twelve month low of $6.13 and a twelve month high of $12.90. The stock has a market capitalization of $15.52 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $10.42.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.95%. Kinross Gold’s payout ratio is 15.58%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KGC shares. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC lifted their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. One analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Buy” and an average target price of $11.63.

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.