Kinross Gold Co. (NYSE:KGC) Shares Sold by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. decreased its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 84.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 96,000 shares of the mining company’s stock after selling 526,762 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Kinross Gold were worth $900,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter worth $774,000. Gabelli Funds LLC grew its position in Kinross Gold by 3.9% during the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after acquiring an additional 194,700 shares during the period. International Assets Investment Management LLC acquired a new stake in Kinross Gold during the third quarter worth about $780,000. Raymond James & Associates raised its holdings in shares of Kinross Gold by 25.7% in the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Kinross Gold by 5.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.3 %

KGC opened at $9.91 on Friday. The firm’s 50 day moving average is $9.94 and its 200-day moving average is $9.06. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $12.18 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.45 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. Analysts expect that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analyst Ratings Changes

A number of analysts recently issued reports on KGC shares. Scotiabank increased their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and an average price target of $11.13.

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.