Thrivent Financial for Lutherans Makes New $5.78 Million Investment in Kinross Gold Co. (NYSE:KGC)

Thrivent Financial for Lutherans bought a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 617,609 shares of the mining company's stock, valued at approximately $5,781,000. Thrivent Financial for Lutherans owned about 0.05% of Kinross Gold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock valued at $278,486,000 after acquiring an additional 497,531 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of 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 purchasing an additional 194,700 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter worth about $780,000. Raymond James & Associates lifted its position in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock valued at $3,186,000 after acquiring an additional 69,520 shares during the period. Finally, Plato Investment Management Ltd purchased a new stake in Kinross Gold in the third quarter worth about $2,699,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of Kinross Gold stock traded up $0.14 during trading hours on Friday, reaching $10.22. 15,614,386 shares of the stock traded hands, compared to its average volume of 17,986,414. The company has a 50 day moving average price of $9.89 and a 200 day moving average price of $8.93. Kinross Gold Co. has a one year low of $4.75 and a one year high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 0.50 and a beta of 1.22.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the previous year, the firm earned $0.12 EPS. The business's quarterly revenue was up 29.9% on a year-over-year basis. On average, equities research analysts expect 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 will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.17%. Kinross Gold's payout ratio is 19.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KGC shares. Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 19th. StockNews.com upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group increased their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.00.

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.