Leuthold Group LLC Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Leuthold Group LLC acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 253,439 shares of the mining company's stock, valued at approximately $2,372,000.

A number of other large investors have also modified their holdings of the company. Artemis Investment Management LLP raised its position in Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company's stock worth $55,707,000 after purchasing an additional 5,107,120 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Kinross Gold in the 1st quarter worth approximately $23,907,000. Allspring Global Investments Holdings LLC lifted its position in shares of Kinross Gold by 634.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company's stock worth $36,971,000 after buying an additional 3,405,478 shares during the period. National Bank of Canada FI boosted its stake in Kinross Gold by 31.2% in the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company's stock valued at $78,946,000 after buying an additional 2,267,999 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Kinross Gold by 64.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company's stock valued at $29,115,000 after buying an additional 1,856,478 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KGC shares. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a report on Friday, October 4th. CIBC lifted their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an "outperformer" rating in a report on Wednesday, July 10th. StockNews.com cut shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 25th. Finally, Scotiabank raised their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Kinross Gold Trading Up 2.5 %

NYSE:KGC traded up $0.26 during trading hours on Tuesday, hitting $10.70. 14,657,039 shares of the stock were exchanged, compared to its average volume of 15,226,534. The company has a market capitalization of $13.15 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The company's 50 day moving average is $9.53 and its two-hundred day moving average is $8.50. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.64 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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