Lord Abbett & CO. LLC Purchases 129,750 Shares of Kinross Gold Co. (NYSE:KGC)

Lord Abbett & CO. LLC raised its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,579,750 shares of the mining company's stock after buying an additional 129,750 shares during the period. Lord Abbett & CO. LLC owned about 0.29% of Kinross Gold worth $33,536,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cetera Advisors LLC lifted its stake in shares of Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock valued at $122,000 after purchasing an additional 1,828 shares during the period. Blue Trust Inc. boosted its holdings in Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock worth $94,000 after buying an additional 6,011 shares during the last quarter. Raymond James & Associates grew its position in shares of Kinross Gold by 26.3% during the 2nd quarter. Raymond James & Associates now owns 270,875 shares of the mining company's stock worth $2,254,000 after buying an additional 56,324 shares during the period. Fifth Third Bancorp increased its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock valued at $80,000 after acquiring an additional 9,375 shares during the last quarter. Finally, U S Global Investors Inc. raised its position in shares of Kinross Gold by 45.0% in the 2nd quarter. U S Global Investors Inc. now owns 145,000 shares of the mining company's stock valued at $1,206,000 after acquiring an additional 45,000 shares during the period. Institutional investors own 63.69% of the company's stock.

Analysts Set New Price Targets

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

Kinross Gold Stock Down 2.8 %

NYSE KGC traded down $0.28 on Friday, reaching $9.77. The company had a trading volume of 15,684,541 shares, compared to its average volume of 15,085,595. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. 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 $12.01 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The company's fifty day moving average is $10.00 and its 200-day moving average is $9.15.

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

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were issued a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.23%. Kinross Gold's payout ratio is 19.67%.

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.