Renaissance Technologies LLC Increases Stock Position in Kinross Gold Co. (NYSE:KGC)

Renaissance Technologies LLC lifted its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,862,230 shares of the mining company's stock after acquiring an additional 3,224,455 shares during the quarter. Kinross Gold makes up approximately 0.5% of Renaissance Technologies LLC's portfolio, making the stock its 29th largest position. Renaissance Technologies LLC owned about 2.67% of Kinross Gold worth $304,633,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after buying an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its holdings in 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 worth $40,000 after acquiring an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new position in Kinross Gold in the fourth quarter worth $42,000. Global Retirement Partners LLC grew its stake in Kinross Gold by 747.0% in the 4th 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 period. Finally, Avior Wealth Management LLC increased its position in shares of Kinross Gold by 246.3% during the 4th 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. 63.69% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

A number of equities analysts recently weighed in on KGC shares. Raymond James boosted their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. Stifel Canada raised shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. CIBC increased their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $12.30.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.64 during midday trading on Friday, reaching $14.33. 24,165,801 shares of the company traded hands, compared to its average volume of 17,729,884. Kinross Gold Co. has a 12 month low of $6.20 and a 12 month high of $14.60. The firm's fifty day moving average price is $11.83 and its two-hundred day moving average price is $10.65. 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 capitalization of $17.64 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 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%. On average, equities analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.84%. Kinross Gold's payout ratio is currently 15.58%.

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.