Artemis Investment Management LLP Buys Shares of 1,588,376 Kinross Gold Co. (NYSE:KGC)

Artemis Investment Management LLP acquired a new position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,588,376 shares of the mining company's stock, valued at approximately $9,732,000. Artemis Investment Management LLP owned approximately 0.13% of Kinross Gold at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in KGC. Vanguard Group Inc. lifted its position in Kinross Gold by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 44,932,404 shares of the mining company's stock valued at $271,841,000 after acquiring an additional 528,121 shares in the last quarter. Norges Bank purchased a new stake in Kinross Gold in the 4th quarter valued at about $265,327,000. Ruffer LLP increased its stake in Kinross Gold by 4.6% in the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company's stock valued at $120,908,000 after buying an additional 877,104 shares during the last quarter. Boston Partners increased its stake in Kinross Gold by 44.0% in the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company's stock valued at $102,236,000 after buying an additional 5,162,124 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Kinross Gold by 13.3% in the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company's stock valued at $64,151,000 after buying an additional 1,239,966 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

NYSE:KGC remained flat at $8.32 during trading hours on Friday. 22,908,694 shares of the company's stock traded hands, compared to its average volume of 15,697,603. The business's 50 day moving average price is $7.51 and its 200 day moving average price is $6.33. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. Kinross Gold Co. has a 1 year low of $4.32 and a 1 year high of $8.40. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 0.54 and a beta of 1.23.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm earned $0.07 EPS. The business's quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that Kinross Gold Co. will post 0.52 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, May 30th. Kinross Gold's payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the company an "outperform" rating in a research note on Tuesday, May 21st. StockNews.com upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating in a research note on Tuesday, April 2nd. Cormark raised shares of Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Thursday, May 9th. National Bank Financial reaffirmed an "outperform overweight" rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a "hold" rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Moderate Buy" and a consensus target price of $7.59.

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.