Kinross Gold Co. (NYSE:KGC) Holdings Cut by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 72.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,693 shares of the mining company’s stock after selling 440,903 shares during the period. Alliancebernstein L.P.’s holdings in Kinross Gold were worth $1,545,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KGC. Van ECK Associates Corp grew its position in shares of Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. Norges Bank acquired a new stake in Kinross Gold during the fourth quarter worth about $280,697,000. First Eagle Investment Management LLC increased its stake in Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after acquiring an additional 5,639,383 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Kinross Gold by 174.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company’s stock valued at $30,141,000 after acquiring an additional 2,065,693 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Kinross Gold by 15.4% in the 4th quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock valued at $124,578,000 after acquiring an additional 1,793,065 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE:KGC opened at $14.80 on Friday. The firm has a market cap of $18.21 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. The company’s 50-day moving average price is $12.06 and its two-hundred day moving average price is $10.78. 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 Co. has a 12 month low of $6.34 and a 12 month high of $15.34.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. On average, equities analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.81%. Kinross Gold’s payout ratio is 15.58%.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research reports. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Monday. CIBC raised their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday. Raymond James lifted their price objective on 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 initiated coverage on Kinross Gold in a report on Wednesday. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and a consensus price target of $13.30.

Kinross Gold 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.