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

Donald Smith & CO. Inc. reduced its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,586,718 shares of the mining company’s stock after selling 1,818,139 shares during the period. Kinross Gold accounts for about 2.0% of Donald Smith & CO. Inc.’s holdings, making the stock its 21st biggest position. Donald Smith & CO. Inc. owned approximately 1.03% of Kinross Gold worth $76,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KGC. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after buying an additional 463,035 shares in the last quarter. Boston Partners lifted its holdings in Kinross Gold by 96.1% during the third quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock worth $53,518,000 after acquiring an additional 5,752,397 shares during the period. Mackenzie Financial Corp boosted its position in Kinross Gold by 13.3% in the fourth quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after purchasing an additional 1,239,966 shares during the last quarter. American Century Companies Inc. grew its stake in Kinross Gold by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock valued at $36,680,000 after purchasing an additional 1,603,951 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Kinross Gold by 14.3% during the 3rd quarter. Gabelli Funds LLC now owns 4,965,900 shares of the mining company’s stock valued at $22,645,000 after purchasing an additional 622,000 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

KGC stock traded up $0.09 during midday trading on Monday, reaching $6.84. 13,533,014 shares of the company’s stock traded hands, compared to its average volume of 14,569,760. The firm has a market capitalization of $8.39 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $5.66. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $6.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.95 and a current ratio of 2.63.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Kinross Gold had a return on equity of 8.85% and a net margin of 9.82%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.09 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Kinross Gold Co. will post 0.4 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.76%. Kinross Gold’s dividend payout ratio is currently 35.29%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on KGC shares. Jefferies Financial Group boosted their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. CIBC lifted their price target on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TheStreet lowered Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Finally, StockNews.com upgraded Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.44.

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.