Raymond James Financial Inc. Buys Shares of 738,084 Kinross Gold Co. (NYSE:KGC)

Raymond James Financial Inc. bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 738,084 shares of the mining company’s stock, valued at approximately $6,842,000.

Several other large investors also recently bought and sold shares of KGC. Jones Financial Companies Lllp grew its holdings in Kinross Gold by 109.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock valued at $25,000 after purchasing an additional 1,412 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold in the fourth quarter valued at $42,000. Global Retirement Partners LLC lifted its position in shares of Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after acquiring an additional 4,788 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of Kinross Gold by 246.3% in the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after acquiring an additional 5,140 shares in the last quarter. Finally, Valley National Advisers Inc. purchased a new stake in shares of Kinross Gold in the fourth quarter valued at $92,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on KGC shares. CIBC upped their price objective on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average price target of $11.63.

Kinross Gold Stock Performance

NYSE KGC opened at $12.17 on Monday. The business’s 50-day moving average price is $11.21 and its 200 day moving average price is $10.27. Kinross Gold Co. has a twelve month low of $5.67 and a twelve month high of $12.39. The company has a market capitalization of $14.97 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results 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 12.65% and a net margin of 18.43%. On average, research analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.99%. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Kinross Gold Company 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.