Wellington Management Group LLP Cuts Stake in Kinross Gold Co. (NYSE:KGC)

Wellington Management Group LLP lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 541,028 shares of the mining company’s stock after selling 14,430 shares during the period. Wellington Management Group LLP’s holdings in Kinross Gold were worth $3,291,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in KGC. 180 Wealth Advisors LLC raised its stake in Kinross Gold by 6.0% in the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock valued at $225,000 after buying an additional 2,157 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Kinross Gold by 1.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after purchasing an additional 2,204 shares in the last quarter. Metis Global Partners LLC grew its position in Kinross Gold by 7.6% during the 4th quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock worth $259,000 after purchasing an additional 3,018 shares during the last quarter. Signaturefd LLC increased its stake in Kinross Gold by 7.7% during the 4th quarter. Signaturefd LLC now owns 42,585 shares of the mining company’s stock valued at $258,000 after purchasing an additional 3,048 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its holdings in shares of Kinross Gold by 4.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 81,666 shares of the mining company’s stock worth $494,000 after buying an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC stock opened at $8.32 on Monday. Kinross Gold Co. has a one year low of $4.32 and a one year high of $8.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. The firm’s fifty day moving average is $7.51 and its 200 day moving average is $6.34. The firm has a market cap of $10.23 billion, a PE ratio of 23.11, a P/E/G ratio of 0.54 and a beta of 1.23.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. Kinross Gold’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. On average, research analysts forecast that Kinross Gold Co. will post 0.52 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. Kinross Gold’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

KGC has been the topic of several research reports. StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Cormark raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. BMO Capital Markets raised their price target on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Scotiabank upped their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.59.

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.