Kinross Gold Co. (NYSE:KGC) Shares Bought by Blue Trust Inc.

Blue Trust Inc. raised its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 88.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,351 shares of the mining company’s stock after buying an additional 10,024 shares during the quarter. Blue Trust Inc.’s holdings in Kinross Gold were worth $200,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KGC. Van ECK Associates Corp lifted its stake in Kinross Gold by 9.5% during the first quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after purchasing an additional 13,099,791 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after buying an additional 497,531 shares during the last quarter. Boston Partners boosted its holdings in shares of Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after buying an additional 1,328,372 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after buying an additional 643,013 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after acquiring an additional 2,267,999 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 2.0 %

NYSE:KGC opened at $10.53 on Friday. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $9.51 and its 200-day simple moving average is $8.44. The firm has a market cap of $12.94 billion, a P/E ratio of 25.68, a PEG ratio of 0.58 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $0.14 EPS. Kinross Gold’s revenue was up 11.6% compared to the same quarter last year. Equities analysts anticipate that Kinross Gold Co. will post 0.63 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is presently 29.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on KGC shares. CIBC upped their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank raised their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group lifted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.