10,666 Shares in Kinross Gold Co. (NYSE:KGC) Acquired by M&T Bank Corp

M&T Bank Corp bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, Holdings Channel.com reports. The institutional investor bought 10,666 shares of the mining company’s stock, valued at approximately $100,000.

Several other large investors also recently added to or reduced their stakes in KGC. Private Advisor Group LLC lifted its stake in shares of Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after purchasing an additional 981 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Kinross Gold by 2.7% in the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after buying an additional 1,235 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Kinross Gold by 18.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after acquiring an additional 2,180 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock valued at $241,000 after acquiring an additional 2,200 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in Kinross Gold by 16.9% in the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after purchasing an additional 3,262 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on KGC shares. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $11.13.

Kinross Gold Stock Performance

NYSE KGC opened at $9.25 on Friday. The company’s fifty day moving average is $9.97 and its two-hundred day moving average is $9.18. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 0.44 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. Equities research analysts forecast that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced 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 was Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.30%. Kinross Gold’s dividend payout ratio (DPR) is currently 19.67%.

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.