Alliancebernstein L.P. Sells 440,903 Shares of Kinross Gold Co. (NYSE:KGC)

Alliancebernstein L.P. decreased its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 72.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,693 shares of the mining company's stock after selling 440,903 shares during the quarter. Alliancebernstein L.P.'s holdings in Kinross Gold were worth $1,545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock worth $25,000 after purchasing an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Kinross Gold during the fourth quarter valued at $42,000. Global Retirement Partners LLC boosted its position in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock valued at $50,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock valued at $67,000 after purchasing an additional 5,140 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank restated an "outperform" rating on shares of Kinross Gold in a research note on Monday, April 14th. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Raymond James lifted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, April 4th. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, CIBC lifted their target price on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $13.30.

Kinross Gold Price Performance

NYSE:KGC traded down $0.79 during midday trading on Wednesday, hitting $13.94. The company had a trading volume of 6,606,840 shares, compared to its average volume of 17,683,587. Kinross Gold Co. has a 52-week low of $6.34 and a 52-week high of $15.46. The stock's fifty day moving average price is $12.23 and its 200-day moving average price is $10.90. The company has a market capitalization of $17.15 billion, a PE ratio of 18.10, a P/E/G ratio of 0.68 and a beta of 1.12. 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 - Get Free Report) TSE: K last posted 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%. As a group, research analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.86%. Kinross Gold's dividend payout ratio (DPR) 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.