Allspring Global Investments Holdings LLC Sells 430,683 Shares of Kinross Gold Co. (NYSE:KGC)

Allspring Global Investments Holdings LLC reduced its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,511,359 shares of the mining company’s stock after selling 430,683 shares during the period. Allspring Global Investments Holdings LLC owned 0.29% of Kinross Gold worth $32,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KGC. Avior Wealth Management LLC increased its stake in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after purchasing an additional 5,140 shares in the last quarter. Valley National Advisers Inc. bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $92,000. Corundum Trust Company INC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $94,000. OneDigital Investment Advisors LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $94,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Kinross Gold during the third quarter valued at approximately $95,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.3 %

NYSE:KGC opened at $11.27 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $12.28. The company has a market cap of $13.85 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The company has a 50 day simple moving average of $10.36 and a two-hundred day simple moving average of $9.81.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Research analysts forecast that Kinross Gold Co. will post 0.73 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. CIBC increased their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.