Boston Partners Sells 9,242,155 Shares of Kinross Gold Co. (NYSE:KGC)

Boston Partners lessened its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 21.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 34,821,852 shares of the mining company’s stock after selling 9,242,155 shares during the period. Boston Partners’ holdings in Kinross Gold were worth $351,317,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KGC. Van ECK Associates Corp lifted its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after acquiring an additional 5,639,383 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Kinross Gold during the 3rd quarter valued at $14,193,000. Intact Investment Management Inc. grew its position in Kinross Gold by 4,059.9% in the 4th quarter. Intact Investment Management Inc. now owns 1,510,040 shares of the mining company’s stock valued at $14,022,000 after acquiring an additional 1,473,740 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after purchasing an additional 1,398,225 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. 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. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.63.

Kinross Gold Price Performance

Shares of KGC opened at $12.01 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The company has a 50 day moving average price of $11.06 and a 200-day moving average price of $10.18. Kinross Gold Co. has a fifty-two week low of $5.44 and a fifty-two week high of $12.29. The stock has a market capitalization of $14.77 billion, a PE ratio of 15.60, a PEG ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its 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%. Equities analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.00%. Kinross Gold’s dividend payout ratio is presently 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.