Zweig DiMenna Associates LLC Sells 500,000 Shares of Kinross Gold Co. (NYSE:KGC)

Zweig DiMenna Associates LLC cut its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 73.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the mining company’s stock after selling 500,000 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Kinross Gold were worth $1,685,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KGC. Vanguard Group Inc. grew its position in shares of Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company’s stock valued at $271,841,000 after acquiring an additional 528,121 shares during the period. 180 Wealth Advisors LLC increased its position in Kinross Gold by 13.1% during the first quarter. 180 Wealth Advisors LLC now owns 43,046 shares of the mining company’s stock worth $264,000 after buying an additional 4,989 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Kinross Gold in the first quarter valued at approximately $9,732,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the first quarter valued at approximately $60,000. Finally, Maryland State Retirement & Pension System boosted its stake in shares of Kinross Gold by 1.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 649,871 shares of the mining company’s stock worth $4,128,000 after acquiring an additional 10,820 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

NYSE:KGC opened at $10.77 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 0.58 and a beta of 1.24. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The firm’s 50-day simple moving average is $9.48 and its 200 day simple moving average is $8.41.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, sell-side analysts predict that Kinross Gold Co. will post 0.63 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio (DPR) is currently 29.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KGC. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC increased their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.