Geode Capital Management LLC Raises Position in Kinross Gold Co. (NYSE:KGC)

Geode Capital Management LLC boosted its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,730,283 shares of the mining company's stock after purchasing an additional 828,456 shares during the quarter. Geode Capital Management LLC owned about 0.47% of Kinross Gold worth $54,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Advisor Group LLC grew its holdings in shares of Kinross Gold by 8.7% in the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company's stock valued at $115,000 after purchasing an additional 981 shares in the last quarter. First Trust Direct Indexing L.P. lifted its position in Kinross Gold by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company's stock valued at $447,000 after purchasing an additional 1,235 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company's stock worth $119,000 after buying an additional 2,180 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kinross Gold by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company's stock worth $241,000 after buying an additional 2,200 shares in the last quarter. Finally, Oxbow Advisors LLC increased its holdings in shares of Kinross Gold by 16.9% in the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company's stock worth $188,000 after buying an additional 3,262 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Up 0.9 %

Shares of NYSE:KGC traded up $0.08 during trading hours on Monday, hitting $9.33. 18,925,031 shares of the company's stock traded hands, compared to its average volume of 15,605,481. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business has a fifty day moving average price of $9.97 and a 200-day moving average price of $9.20. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The firm has a market capitalization of $11.47 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the previous year, the business earned $0.12 EPS. Kinross Gold's revenue was up 29.9% compared to the same quarter last year. Equities analysts expect that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were given a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.29%. Kinross Gold's dividend payout ratio (DPR) is 19.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on KGC. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold presently has an average rating of "Buy" and a consensus price target of $11.13.

Kinross Gold 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.