Bridgewater Associates LP Has $5.17 Million Position in Kinross Gold Co. (NYSE:KGC)

Bridgewater Associates LP increased its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 88.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 551,203 shares of the mining company's stock after purchasing an additional 258,795 shares during the quarter. Bridgewater Associates LP's holdings in Kinross Gold were worth $5,170,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Artemis Investment Management LLP raised its position in Kinross Gold by 321.5% during the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company's stock valued at $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Kinross Gold by 634.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company's stock valued at $36,971,000 after acquiring an additional 3,405,478 shares in the last quarter. National Bank of Canada FI raised its position in shares of Kinross Gold by 31.2% in the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Kinross Gold by 64.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company's stock valued at $29,115,000 after purchasing an additional 1,856,478 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Kinross Gold by 25.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company's stock valued at $72,867,000 after purchasing an additional 1,777,076 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

KGC stock traded down $0.09 on Friday, reaching $9.71. 11,778,128 shares of the company were exchanged, compared to its average volume of 17,617,684. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The stock's fifty day moving average price is $9.93 and its 200 day moving average price is $9.01. The firm has a market capitalization of $11.93 billion, a PE ratio of 15.92, a PEG ratio of 0.44 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

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

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. Kinross Gold's dividend payout ratio is currently 19.67%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $11.13.

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.