Strategic Financial Concepts LLC Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Strategic Financial Concepts LLC purchased a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,952 shares of the mining company's stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new position in Kinross Gold in the third quarter worth approximately $774,000. Mediolanum International Funds Ltd bought a new position in Kinross Gold in the fourth quarter worth approximately $2,506,000. International Assets Investment Management LLC bought a new position in Kinross Gold in the third quarter worth approximately $780,000. Geode Capital Management LLC boosted its holdings in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock worth $54,803,000 after acquiring an additional 828,456 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock worth $3,186,000 after acquiring an additional 69,520 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on KGC. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. CIBC raised their target price on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of "Buy" and an average price target of $11.63.

Kinross Gold Stock Down 1.3 %

Shares of KGC stock traded down $0.15 during trading hours on Friday, reaching $11.27. The company had a trading volume of 22,320,648 shares, compared to its average volume of 20,737,160. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $12.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The business has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $9.84. The company has a market cap of $13.85 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. On average, research analysts expect that Kinross Gold Co. will post 0.73 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 1.07%. Kinross Gold's dividend payout ratio (DPR) is currently 19.67%.

About Kinross Gold

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.