Cinctive Capital Management LP Sells 470,103 Shares of Kinross Gold Co. (NYSE:KGC)

Cinctive Capital Management LP cut its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 66.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KGC. Massachusetts Financial Services Co. MA purchased a new position in shares of Kinross Gold in the 4th quarter valued at $118,000. Groupama Asset Managment purchased a new stake in shares of Kinross Gold during the fourth quarter valued at about $207,000. Trexquant Investment LP boosted its holdings in shares of Kinross Gold by 144.6% in the 4th quarter. Trexquant Investment LP now owns 2,023,864 shares of the mining company’s stock valued at $18,761,000 after buying an additional 1,196,355 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Kinross Gold by 34.1% during the 4th quarter. Geode Capital Management LLC now owns 7,682,835 shares of the mining company’s stock worth $74,128,000 after acquiring an additional 1,952,552 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Kinross Gold by 1.5% during the fourth quarter. Franklin Resources Inc. now owns 1,096,731 shares of the mining company’s stock valued at $10,173,000 after acquiring an additional 15,774 shares during the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Up 1.9 %

Shares of KGC opened at $12.84 on Thursday. The company has a market capitalization of $15.80 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 0.68 and a beta of 1.29. Kinross Gold Co. has a 52 week low of $6.20 and a 52 week high of $12.90. The stock’s 50-day moving average price is $11.53 and its 200-day moving average price is $10.45. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data 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 net margin of 18.43% and a return on equity of 12.65%. On average, sell-side analysts predict that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Analyst Ratings Changes

Several research firms have issued reports on KGC. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 22nd. CIBC boosted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Stifel Canada raised 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 given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently 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.