Bank of America Corp DE Purchases 168,169 Shares of Kinross Gold Co. (NYSE:KGC)

Bank of America Corp DE boosted its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 4.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,884,088 shares of the mining company's stock after buying an additional 168,169 shares during the period. Bank of America Corp DE owned approximately 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 added to or reduced their stakes in KGC. Fiduciary Financial Group LLC bought a new stake in Kinross Gold in the 4th quarter valued at about $275,000. SeaCrest Wealth Management LLC bought a new stake in Kinross Gold in the 4th quarter valued at about $202,000. Assenagon Asset Management S.A. increased its position in Kinross Gold by 105.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 551,213 shares of the mining company's stock valued at $5,113,000 after buying an additional 283,160 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Kinross Gold in the 4th quarter valued at about $337,000. Finally, Ritholtz Wealth Management increased its position in Kinross Gold by 31.0% in the 4th quarter. Ritholtz Wealth Management now owns 194,140 shares of the mining company's stock valued at $1,800,000 after buying an additional 45,911 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. National Bank Financial raised Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. CIBC reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, April 18th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of "Buy" and a consensus target price of $13.90.

Kinross Gold Stock Performance

Kinross Gold stock traded down $0.05 during trading on Friday, hitting $13.71. The stock had a trading volume of 17,477,945 shares, compared to its average volume of 18,207,111. Kinross Gold Co. has a 1 year low of $7.20 and a 1 year high of $15.96. 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 stock's 50 day moving average is $13.44 and its two-hundred day moving average is $11.43. The stock has a market cap of $16.86 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64.

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

Kinross Gold Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.88%. Kinross Gold's payout ratio is currently 12.24%.

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.