Kinross Gold Co. (NYSE:KGC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 16.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,730,283 shares of the mining company’s stock after purchasing an additional 828,456 shares during the quarter. Geode Capital Management LLC’s holdings in Kinross Gold were worth $54,803,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Capstone Investment Advisors LLC purchased a new stake in shares of Kinross Gold in the third quarter worth about $774,000. Gabelli Funds LLC boosted its holdings in Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after acquiring an additional 194,700 shares during the period. International Assets Investment Management LLC acquired a new stake in Kinross Gold in the third quarter valued at approximately $780,000. Raymond James & Associates lifted its position in shares of Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Kinross Gold by 5.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock valued at $124,276,000 after purchasing an additional 642,007 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC opened at $9.25 on Monday. The company has a market capitalization of $11.37 billion, a P/E ratio of 15.16, a PEG ratio of 0.44 and a beta of 1.21. The company has a 50-day moving average of $9.97 and a 200-day moving average of $9.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts expect that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KGC shares. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Jefferies Financial Group lifted their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.13.

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.