Norges Bank Invests $280.70 Million in Kinross Gold Co. (NYSE:KGC)

Norges Bank acquired a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 30,264,839 shares of the mining company's stock, valued at approximately $280,697,000. Norges Bank owned about 2.46% of Kinross Gold as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Signaturefd LLC grew its holdings in Kinross Gold by 2.2% in the fourth quarter. Signaturefd LLC now owns 41,072 shares of the mining company's stock worth $381,000 after purchasing an additional 865 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of 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 last quarter. TD Private Client Wealth LLC increased its holdings in shares of Kinross Gold by 2.4% during the fourth quarter. TD Private Client Wealth LLC now owns 45,617 shares of the mining company's stock valued at $423,000 after acquiring an additional 1,079 shares in the last quarter. Schechter Investment Advisors LLC increased its holdings in shares of Kinross Gold by 2.8% during the fourth quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company's stock valued at $367,000 after acquiring an additional 1,080 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Kinross Gold by 4.9% in the 4th quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company's stock valued at $219,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

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Kinross Gold Stock Performance

NYSE KGC traded up $0.20 on Wednesday, reaching $12.80. 13,900,266 shares of the company's stock traded hands, compared to its average volume of 17,520,749. The stock has a 50 day moving average price of $11.49 and a 200-day moving average price of $10.44. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold Co. has a fifty-two week low of $6.16 and a fifty-two week high of $12.90.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data 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 net margin of 18.43% and a return on equity of 12.65%. Equities research analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.94%. Kinross Gold's payout ratio is 15.58%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KGC shares. CIBC upped their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. StockNews.com cut Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 22nd. Finally, National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. One 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 company's stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $11.63.

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.