Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 573,699 shares of the mining company’s stock after selling 10,190 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kinross Gold were worth $3,489,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of KGC. Boston Partners lifted its stake in Kinross Gold by 96.1% in the third quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock valued at $53,518,000 after purchasing an additional 5,752,397 shares during the last quarter. Triasima Portfolio Management inc. lifted its position in shares of Kinross Gold by 110.4% during the fourth quarter. Triasima Portfolio Management inc. now owns 4,885,850 shares of the mining company’s stock worth $29,627,000 after acquiring an additional 2,563,850 shares in the last quarter. Genus Capital Management Inc. purchased a new stake in shares of Kinross Gold during the third quarter worth $8,625,000. American Century Companies Inc. lifted its position in shares of Kinross Gold by 24.9% during the third quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after acquiring an additional 1,603,951 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Kinross Gold by 13.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after acquiring an additional 1,239,966 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 4.5 %

Kinross Gold stock opened at $6.47 on Tuesday. The stock has a market cap of $7.94 billion, a P/E ratio of 19.01, a PEG ratio of 2.29 and a beta of 1.15. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $6.82. The firm’s fifty day moving average price is $5.70 and its 200-day moving average price is $5.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Thursday, February 15th. The mining company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Equities research analysts forecast that Kinross Gold Co. will post 0.36 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $0.03 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.86%. Kinross Gold’s dividend payout ratio is presently 35.29%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KGC. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. CIBC increased their target price on Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group increased their target price on Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Monday. Finally, StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.44.

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.