Bank of New York Mellon Corp Sells 91,378 Shares of Kinross Gold Co. (NYSE:KGC)

Bank of New York Mellon Corp lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,466,636 shares of the mining company’s stock after selling 91,378 shares during the period. Bank of New York Mellon Corp owned 0.12% of Kinross Gold worth $13,596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC grew its stake in shares of Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after buying an additional 4,788 shares during the last quarter. Avior Wealth Management LLC grew its position in Kinross Gold by 246.3% during the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after purchasing an additional 5,140 shares during the last quarter. Valley National Advisers Inc. bought a new stake in Kinross Gold during the 4th quarter valued at about $92,000. OneDigital Investment Advisors LLC bought a new stake in Kinross Gold during the 3rd quarter valued at about $94,000. Finally, EP Wealth Advisors LLC purchased a new position in Kinross Gold in the third quarter worth about $95,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KGC shares. CIBC increased their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.63.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $11.13 on Thursday. The firm’s 50-day moving average price is $10.94 and its 200-day moving average price is $10.11. Kinross Gold Co. has a 52-week low of $5.44 and a 52-week high of $12.28. The company has a market cap of $13.67 billion, a PE ratio of 14.45, a PEG ratio of 0.68 and a beta of 1.29. 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 (NYSE:KGC) (TSE:K) last issued its 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%. As a group, analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s payout ratio is currently 15.58%.

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.