Kinross Gold Co. (NYSE:KGC) Shares Sold by Louisbourg Investments Inc.

Louisbourg Investments Inc. lowered its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 9.1% in the first quarter, Holdings Channel.com reports. The firm owned 256,900 shares of the mining company’s stock after selling 25,600 shares during the quarter. Louisbourg Investments Inc.’s holdings in Kinross Gold were worth $3,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after purchasing an additional 763,248 shares during the period. Renaissance Technologies LLC lifted its position in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after purchasing an additional 3,224,455 shares during the period. Norges Bank purchased a new position in Kinross Gold in the fourth quarter valued at about $280,697,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after buying an additional 1,398,225 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock valued at $129,435,000 after buying an additional 2,438,445 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. CIBC reaffirmed an “outperform” rating on shares of Kinross Gold in a report on Tuesday, May 13th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Raymond James increased their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Finally, BMO Capital Markets assumed coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $15.40.

Kinross Gold Trading Down 1.4%

Shares of Kinross Gold stock opened at $15.57 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. Kinross Gold Co. has a 1 year low of $7.20 and a 1 year high of $15.96. The company has a market capitalization of $19.09 billion, a P/E ratio of 20.21, a P/E/G ratio of 0.68 and a beta of 0.63. The business has a 50 day moving average price of $14.64 and a 200 day moving average price of $12.19.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Kinross Gold’s dividend payout ratio is currently 12.24%.

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.