Kinross Gold Co. (NYSE:KGC) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE increased its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,884,088 shares of the mining company's stock after buying an additional 168,169 shares during the quarter. Bank of America Corp DE owned 0.32% of Kinross Gold worth $36,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KGC. Jones Financial Companies Lllp grew its stake in Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company's stock valued at $25,000 after acquiring an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after buying an additional 1,002 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Kinross Gold during the fourth quarter valued at approximately $42,000. Global Retirement Partners LLC increased its holdings in shares of Kinross Gold by 747.0% during 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. Finally, Avior Wealth Management LLC increased its holdings in shares of Kinross Gold by 246.3% in the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company's stock worth $67,000 after purchasing an additional 5,140 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on KGC. Stifel Canada upgraded Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Finally, Scotiabank boosted their target price on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $13.90.

Kinross Gold Trading Up 0.9%

Shares of NYSE:KGC traded up $0.13 during trading hours on Wednesday, hitting $14.50. 4,350,751 shares of the company's stock traded hands, compared to its average volume of 18,203,931. The firm has a market capitalization of $17.84 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The business has a fifty day moving average price of $13.55 and a 200-day moving average price of $11.49. Kinross Gold Co. has a 1 year low of $7.20 and a 1 year high of $15.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The business's revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is currently 12.24%.

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.