Gamco Investors INC. ET AL Sells 18,365 Shares of Kinross Gold Corporation $KGC

Gamco Investors INC. ET AL lessened its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 505,900 shares of the mining company’s stock after selling 18,365 shares during the period. Gamco Investors INC. ET AL’s holdings in Kinross Gold were worth $14,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in KGC. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after purchasing an additional 7,825,336 shares during the last quarter. Man Group plc boosted its holdings in shares of Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after purchasing an additional 5,411,491 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Kinross Gold during the 3rd quarter valued at about $80,299,000. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Kinross Gold by 50.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after purchasing an additional 3,089,959 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.6%

Shares of NYSE:KGC opened at $28.55 on Tuesday. The company has a current ratio of 2.84, a quick ratio of 1.83 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12 month low of $13.66 and a 12 month high of $39.11. The company has a 50-day moving average price of $31.15 and a 200 day moving average price of $30.53. The company has a market cap of $34.05 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 1.02 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm earned $0.30 EPS. The firm’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, equities research analysts predict that Kinross Gold Corporation will post 2.92 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s dividend payout ratio is 6.78%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of Kinross Gold from a “buy (a+)” rating to a “buy (a-)” rating in a report on Friday, May 1st. Scotiabank increased their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. ATB Cormark Capital Markets raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce set a $54.00 price objective on shares of Kinross Gold in a report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.