Donald Smith & CO. Inc. Trims Stock Position in Kinross Gold Co. (NYSE:KGC)

Donald Smith & CO. Inc. decreased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 74.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,865,225 shares of the mining company’s stock after selling 8,506,280 shares during the period. Donald Smith & CO. Inc. owned 0.23% of Kinross Gold worth $23,839,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of KGC. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Kinross Gold by 248.4% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock worth $2,021,000 after buying an additional 238,219 shares during the period. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% in the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after acquiring an additional 497,531 shares during the period. Quantbot Technologies LP bought a new position in Kinross Gold during the 1st quarter worth about $1,095,000. Jupiter Asset Management Ltd. purchased a new position in Kinross Gold during the 1st quarter valued at about $3,199,000. Finally, Ruffer LLP raised its holdings in shares of Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after purchasing an additional 877,104 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Up 0.6 %

Shares of NYSE:KGC opened at $9.84 on Monday. The company has a market capitalization of $12.09 billion, a PE ratio of 27.33, a PEG ratio of 0.56 and a beta of 1.23. Kinross Gold Co. has a 12-month low of $4.32 and a 12-month high of $10.10. The business has a 50 day moving average of $8.92 and a two-hundred day moving average of $7.61. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, analysts forecast that Kinross Gold Co. will post 0.58 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. Kinross Gold’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Jefferies Financial Group lifted their price target on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. CIBC raised their price objective on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank boosted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

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.