Cannell & Spears LLC Sells 38,564 Shares of Kinross Gold Co. (NYSE:KGC)

Cannell & Spears LLC decreased its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 18.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,538 shares of the mining company’s stock after selling 38,564 shares during the period. Cannell & Spears LLC’s holdings in Kinross Gold were worth $1,609,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. SCP Investment LP bought a new position in shares of Kinross Gold in the 4th quarter valued at $156,000. Schroder Investment Management Group raised its position in Kinross Gold by 2.8% in the fourth quarter. Schroder Investment Management Group now owns 3,277,665 shares of the mining company’s stock valued at $30,056,000 after purchasing an additional 87,822 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Kinross Gold during the fourth quarter valued at about $758,000. Orion Portfolio Solutions LLC grew its holdings in shares of Kinross Gold by 106.8% during the fourth quarter. Orion Portfolio Solutions LLC now owns 31,789 shares of the mining company’s stock worth $295,000 after purchasing an additional 16,418 shares during the last quarter. Finally, denkapparat Operations GmbH acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $383,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC stock opened at $12.62 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 0.68 and a beta of 1.29. The company’s fifty day simple moving average is $11.45 and its 200 day simple moving average is $10.42. Kinross Gold Co. has a 12-month low of $6.13 and a 12-month high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) 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, analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Analyst Ratings Changes

Several research firms recently commented on KGC. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC boosted their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $11.63.

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.