U S Global Investors Inc. Purchases 392,868 Shares of Kinross Gold Co. (NYSE:KGC)

U S Global Investors Inc. lifted its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 270.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 537,868 shares of the mining company's stock after purchasing an additional 392,868 shares during the quarter. U S Global Investors Inc.'s holdings in Kinross Gold were worth $5,034,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock worth $278,486,000 after purchasing an additional 497,531 shares during the last quarter. Quantbot Technologies LP acquired a new position in Kinross Gold in the 1st quarter valued at $1,095,000. Gabelli Funds LLC grew its stake in Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company's stock valued at $43,218,000 after buying an additional 194,700 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Kinross Gold in the 1st quarter valued at $3,199,000. Finally, Artemis Investment Management LLP acquired a new position in Kinross Gold in the 1st quarter valued at $9,732,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. CIBC raised their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised 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. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. Finally, StockNews.com lowered shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Kinross Gold Price Performance

Shares of NYSE:KGC traded up $0.17 during midday trading on Tuesday, reaching $10.71. 13,540,365 shares of the company's stock were exchanged, compared to its average volume of 15,218,467. The company's 50 day simple moving average is $9.38 and its two-hundred day simple moving average is $8.35. The firm has a market capitalization of $13.16 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.52 and a current ratio of 1.27.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.14 EPS. Equities research analysts expect that Kinross Gold Co. will post 0.61 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Thursday, August 22nd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Thursday, August 22nd. Kinross Gold's payout ratio is 29.27%.

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.