Magnetar Financial LLC Sells 116,189 Shares of Kinross Gold Co. (NYSE:KGC)

Magnetar Financial LLC reduced its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 68.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 54,378 shares of the mining company’s stock after selling 116,189 shares during the period. Magnetar Financial LLC’s holdings in Kinross Gold were worth $504,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capstone Investment Advisors LLC purchased a new position in shares of Kinross Gold in the 3rd quarter worth approximately $774,000. Mediolanum International Funds Ltd bought a new stake in Kinross Gold during the 4th quarter valued at $2,506,000. Truist Financial Corp raised its holdings in Kinross Gold by 48.2% during the 4th quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after acquiring an additional 98,196 shares during the period. Geode Capital Management LLC raised its holdings in Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after acquiring an additional 828,456 shares during the period. Finally, DJE Kapital AG bought a new stake in Kinross Gold during the 4th quarter valued at $3,723,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Down 1.3 %

KGC opened at $12.17 on Friday. The stock has a market cap of $14.97 billion, a PE ratio of 15.80, a P/E/G 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 Co. has a 52 week low of $5.67 and a 52 week high of $12.39. The business’s fifty day simple moving average is $11.21 and its 200 day simple moving average is $10.26.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly 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 net margin of 18.43% and a return on equity of 12.65%. As a group, research analysts expect that Kinross Gold Co. will post 0.81 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 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.99%. Kinross Gold’s dividend payout ratio is currently 15.58%.

Analyst Ratings Changes

KGC has been the topic of a number of analyst reports. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday. Finally, CIBC upped their price target 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. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $11.63.

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.