First Eagle Investment Management LLC Buys 5,639,383 Shares of Kinross Gold Co. (NYSE:KGC)

First Eagle Investment Management LLC lifted its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 80.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,610,383 shares of the mining company's stock after acquiring an additional 5,639,383 shares during the quarter. First Eagle Investment Management LLC owned approximately 1.03% of Kinross Gold worth $116,898,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KGC. Entropy Technologies LP acquired a new stake in shares of Kinross Gold in the third quarter valued at about $1,259,000. Sumitomo Mitsui Trust Group Inc. increased its position in Kinross Gold by 44.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 57,727 shares of the mining company's stock worth $540,000 after buying an additional 17,677 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Kinross Gold during the third quarter worth approximately $2,699,000. OneDigital Investment Advisors LLC acquired a new position in Kinross Gold during the third quarter worth approximately $94,000. Finally, CIBC Asset Management Inc increased its position in Kinross Gold by 8.6% during the third quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company's stock worth $56,705,000 after buying an additional 477,529 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of recent analyst reports. CIBC boosted their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.63.

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Kinross Gold Stock Performance

Shares of NYSE:KGC traded down $0.02 during trading on Tuesday, reaching $12.01. 19,163,660 shares of the stock were exchanged, compared to its average volume of 17,176,407. Kinross Gold Co. has a 12 month low of $5.44 and a 12 month high of $12.39. The firm has a market cap of $14.76 billion, a PE ratio of 15.59, a PEG ratio of 0.68 and a beta of 1.29. The stock has a 50-day moving average price of $11.06 and a 200-day moving average price of $10.18. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data 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 return on equity of 12.65% and a net margin of 18.43%. Research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold's dividend payout ratio is presently 15.58%.

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.