Balyasny Asset Management L.P. Has $1.90 Million Holdings in Kinross Gold Co. (NYSE:KGC)

Balyasny Asset Management L.P. raised its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 249.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,664 shares of the mining company's stock after acquiring an additional 146,064 shares during the period. Balyasny Asset Management L.P.'s holdings in Kinross Gold were worth $1,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. Norges Bank bought a new stake in shares of Kinross Gold during the fourth quarter worth about $280,697,000. First Eagle Investment Management LLC boosted its holdings in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock valued at $116,898,000 after acquiring an additional 5,639,383 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its position in Kinross Gold by 174.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company's stock valued at $30,141,000 after purchasing an additional 2,065,693 shares during the period. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

Kinross Gold stock opened at $13.69 on Tuesday. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a 52-week low of $7.20 and a 52-week high of $15.96. The stock's 50 day moving average price is $13.22 and its two-hundred day moving average price is $11.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company's revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, May 29th. Kinross Gold's payout ratio is 12.24%.

Analysts Set New Price Targets

A number of analysts have weighed in on KGC shares. National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Scotiabank increased their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. CIBC increased their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $13.50.

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.

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