Alliancebernstein L.P. Sells 440,903 Shares of Kinross Gold Co. (NYSE:KGC)

Alliancebernstein L.P. decreased its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 72.6% in the 4th quarter, according to its most recent 13F filing with the SEC. 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.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on KGC shares. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets started coverage on Kinross Gold in a report on Wednesday. They issued an “outperform” rating for the company. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, CIBC increased their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $13.30.

Kinross Gold Stock Down 1.6 %

Shares of NYSE:KGC opened at $14.80 on Friday. Kinross Gold Co. has a 1 year low of $6.34 and a 1 year high of $15.34. 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 business’s 50-day moving average is $12.06 and its 200-day moving average is $10.78. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 0.68 and a beta of 1.12.

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 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%. Equities research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current 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 paid a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.81%. Kinross Gold’s payout ratio is 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.