Allred Capital Management LLC Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Allred Capital Management LLC acquired a new stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,000 shares of the mining company's stock, valued at approximately $167,000.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the last quarter. Norges Bank purchased a new stake in shares of Kinross Gold during the 4th quarter worth about $280,697,000. First Eagle Investment Management LLC increased its position in Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after buying an additional 3,224,455 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its position in Kinross Gold by 174.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company's stock valued at $30,141,000 after buying an additional 2,065,693 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Raymond James lifted their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Friday, April 4th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Scotiabank restated an "outperform" rating on shares of Kinross Gold in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $13.30.

Kinross Gold Stock Down 3.3 %

Shares of KGC traded down $0.48 during trading hours on Wednesday, reaching $14.25. The company's stock had a trading volume of 20,779,470 shares, compared to its average volume of 17,739,361. The company has a 50 day moving average of $12.23 and a two-hundred day moving average of $10.90. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a market cap of $17.53 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 0.68 and a beta of 1.12. Kinross Gold Co. has a 1-year low of $6.34 and a 1-year high of $15.46.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) 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%. As a group, research analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.84%. Kinross Gold's dividend payout ratio is currently 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.