Advisory Services Network LLC Invests $339,000 in Kinross Gold Co. (NYSE:KGC)

Advisory Services Network LLC purchased a new stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,543 shares of the mining company's stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also modified their holdings of KGC. MML Investors Services LLC bought a new stake in shares of Kinross Gold during the 3rd quarter worth about $201,000. M&T Bank Corp bought a new stake in Kinross Gold during the third quarter worth approximately $100,000. Geode Capital Management LLC lifted its position in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company's stock worth $54,803,000 after purchasing an additional 828,456 shares during the period. Te Ahumairangi Investment Management Ltd increased its position in shares of Kinross Gold by 6.4% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 298,800 shares of the mining company's stock valued at $2,786,000 after purchasing an additional 18,000 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Kinross Gold in the third quarter valued at $248,000. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 3.7 %

Shares of KGC traded down $0.55 during trading hours on Wednesday, reaching $14.18. The company's stock had a trading volume of 12,965,661 shares, compared to its average volume of 17,711,993. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 0.68 and a beta of 1.12. The company has a 50 day moving average of $12.23 and a two-hundred day moving average of $10.90. Kinross Gold Co. has a 1-year low of $6.34 and a 1-year high of $15.46.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, research analysts predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.85%. Kinross Gold's dividend payout ratio (DPR) is 15.58%.

Analysts Set New Price Targets

A number of research firms recently commented on KGC. BMO Capital Markets assumed coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC increased 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. Raymond James raised their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, April 4th. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Scotiabank restated an "outperform" rating on shares of Kinross Gold in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Kinross Gold has a consensus rating of "Buy" and an average price target of $13.30.

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.