Korea Investment CORP Acquires 59,700 Shares of Kinross Gold Co. (NYSE:KGC)

Korea Investment CORP increased its stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,240,258 shares of the mining company's stock after purchasing an additional 59,700 shares during the quarter. Korea Investment CORP owned about 0.10% of Kinross Gold worth $11,513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Jones Financial Companies Lllp grew its position in shares of Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after purchasing an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Kinross Gold during the 4th quarter valued at about $42,000. Global Retirement Partners LLC grew its holdings in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock worth $50,000 after purchasing an additional 4,788 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock worth $67,000 after purchasing an additional 5,140 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

KGC has been the subject of a number of research reports. CIBC boosted their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Finally, StockNews.com cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 22nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $11.63.

Kinross Gold Trading Up 1.9 %

NYSE KGC traded up $0.24 during trading on Wednesday, hitting $12.84. 15,715,878 shares of the company's stock traded hands, compared to its average volume of 17,521,879. The stock has a fifty day moving average of $11.49 and a two-hundred day moving average of $10.44. Kinross Gold Co. has a 12-month low of $6.16 and a 12-month high of $12.99. The firm has a market cap of $15.80 billion, a P/E ratio of 16.68, a PEG ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, sell-side analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.93%. Kinross Gold's payout ratio is currently 15.58%.

About Kinross Gold

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.