Van ECK Associates Corp Has $1.08 Billion Position in Kinross Gold Co. (NYSE:KGC)

Van ECK Associates Corp raised its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 62.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 116,323,261 shares of the mining company's stock after buying an additional 44,610,091 shares during the period. Kinross Gold comprises approximately 1.4% of Van ECK Associates Corp's investment portfolio, making the stock its 13th biggest position. Van ECK Associates Corp owned approximately 9.46% of Kinross Gold worth $1,078,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KGC. Avior Wealth Management LLC boosted its stake in shares of Kinross Gold by 246.3% during the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock valued at $67,000 after buying an additional 5,140 shares during the period. Valley National Advisers Inc. acquired a new stake in shares of Kinross Gold during the 4th quarter valued at $92,000. Corundum Trust Company INC acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at $94,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at $94,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at $95,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Stock Performance

Shares of NYSE KGC traded down $0.15 during mid-day trading on Friday, reaching $11.27. 22,320,648 shares of the company were exchanged, compared to its average volume of 20,737,160. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $12.28. 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 company's 50-day simple moving average is $10.39 and its 200-day simple moving average is $9.84. The stock has a market capitalization of $13.85 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.67 and a beta of 1.24.

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

Kinross Gold Announces Dividend

The business 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. This represents a $0.12 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold's dividend payout ratio (DPR) is presently 19.67%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. CIBC lifted their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $11.63.

Kinross Gold 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.