Teachers Retirement System of The State of Kentucky Invests $3.46 Million in Kinross Gold Co. (NYSE:KGC)

Teachers Retirement System of The State of Kentucky bought a new stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 369,500 shares of the mining company's stock, valued at approximately $3,459,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in Kinross Gold during the 2nd quarter worth $40,000. Fifth Third Bancorp boosted its stake in shares of Kinross Gold by 3,524.4% in the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company's stock valued at $80,000 after buying an additional 9,375 shares during the period. Blue Trust Inc. grew its position in shares of Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company's stock worth $94,000 after buying an additional 6,011 shares in the last quarter. Corundum Trust Company INC purchased a new stake in shares of Kinross Gold during the third quarter worth approximately $94,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $94,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on KGC. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Scotiabank upped their price target on Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Finally, Jefferies Financial Group raised their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold has an average rating of "Buy" and a consensus price target of $11.13.

Kinross Gold Stock Performance

NYSE:KGC traded down $0.28 during mid-day trading on Friday, reaching $9.77. 15,684,541 shares of the stock were exchanged, compared to its average volume of 15,085,595. The stock has a market capitalization of $12.01 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.44 and a beta of 1.21. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The company has a 50 day simple moving average of $10.00 and a 200-day simple moving average of $9.15. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Kinross Gold's payout ratio 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.