Cinctive Capital Management LP Reduces Position in Kinross Gold Co. (NYSE:KGC)

Cinctive Capital Management LP trimmed its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 66.7% during the fourth quarter, HoldingsChannel reports. The firm owned 234,671 shares of the mining company’s stock after selling 470,103 shares during the period. Cinctive Capital Management LP’s holdings in Kinross Gold were worth $2,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KGC. Signaturefd LLC lifted its holdings in Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company’s stock valued at $381,000 after acquiring an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its stake in Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after acquiring an additional 1,002 shares during the last quarter. TD Private Client Wealth LLC raised its position in Kinross Gold by 2.4% in the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company’s stock valued at $423,000 after purchasing an additional 1,079 shares during the period. Schechter Investment Advisors LLC lifted its stake in shares of Kinross Gold by 2.8% in the 4th quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after purchasing an additional 1,080 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of Kinross Gold by 4.9% during the 4th quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after purchasing an additional 1,106 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 22nd. CIBC upped 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. Finally, Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $11.63.

Kinross Gold Stock Up 1.9 %

Shares of NYSE:KGC opened at $12.84 on Thursday. The firm has a market capitalization of $15.80 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. Kinross Gold Co. has a 1 year low of $6.20 and a 1 year high of $12.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm’s 50-day moving average is $11.53 and its two-hundred day moving average is $10.45.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results 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 return on equity of 12.65% and a net margin of 18.43%. Analysts predict that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s payout ratio is currently 15.58%.

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.