Russell Investments Group Ltd. increased its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 183.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,342,959 shares of the mining company's stock after purchasing an additional 1,514,970 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.19% of Kinross Gold worth $21,721,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in KGC. Van ECK Associates Corp increased its position in Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after buying an additional 44,610,091 shares during the period. Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock valued at $439,881,000 after buying an additional 763,248 shares during the last quarter. Norges Bank acquired a new position in Kinross Gold in the 4th quarter valued at about $280,697,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock valued at $136,028,000 after acquiring an additional 1,398,225 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Kinross Gold by 15.4% in the 4th quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company's stock valued at $124,578,000 after purchasing an additional 1,793,065 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.
Kinross Gold Trading Up 0.7 %
Shares of NYSE:KGC traded up $0.10 during trading on Tuesday, reaching $14.60. 6,110,561 shares of the stock were exchanged, compared to its average volume of 17,691,165. Kinross Gold Co. has a 12-month low of $6.20 and a 12-month high of $14.80. The firm's 50-day moving average price is $11.89 and its 200 day moving average price is $10.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced 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 net margin of 18.43% and a return on equity of 12.65%. On average, sell-side analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.
Kinross Gold Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.82%. Kinross Gold's dividend payout ratio (DPR) is presently 15.58%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on KGC shares. Raymond James raised their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, April 4th. CIBC increased their price objective 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. National Bank Financial upgraded Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. Finally, Scotiabank upped their target price on shares of Kinross Gold from $13.00 to $16.00 and gave the company a "sector outperform" rating in a report on Monday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and a consensus price target of $13.30.
Read Our Latest Stock Report on KGC
About Kinross Gold
(
Free Report)
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.
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