Citigroup Inc. Has $4.06 Million Stake in Kinross Gold Co. (NYSE:KGC)

Citigroup Inc. raised its position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 244.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 433,061 shares of the mining company's stock after buying an additional 307,326 shares during the period. Citigroup Inc.'s holdings in Kinross Gold were worth $4,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KGC. Cetera Advisors LLC increased its holdings in shares of Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company's stock worth $122,000 after buying an additional 1,828 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $129,000. Fulton Bank N.A. bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $144,000. OLD National Bancorp IN bought a new stake in shares of Kinross Gold during the second quarter valued at approximately $95,000. Finally, Artemis Investment Management LLP grew its stake in shares of 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 purchasing an additional 5,107,120 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on KGC. Scotiabank increased 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 note on Monday, August 19th. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group increased their price target 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. One investment 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's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $11.13.

Kinross Gold Trading Up 0.2 %

KGC stock traded up $0.02 during midday trading on Wednesday, reaching $9.94. The company's stock had a trading volume of 15,056,592 shares, compared to its average volume of 15,505,691. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The stock has a market cap of $12.22 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The business's 50-day simple moving average is $9.93 and its 200-day simple moving average is $9.05.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given 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 dividend yield of 1.21%. Kinross Gold's dividend payout ratio is 19.67%.

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.