Concentric Capital Strategies LP Takes Position in Kinross Gold Co. (NYSE:KGC)

Concentric Capital Strategies LP acquired a new position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 235,635 shares of the mining company's stock, valued at approximately $2,184,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers grew its holdings in shares of Kinross Gold by 13.0% during the fourth quarter. Cetera Investment Advisers now owns 79,680 shares of the mining company's stock valued at $739,000 after buying an additional 9,194 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Kinross Gold by 249.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 204,664 shares of the mining company's stock valued at $1,897,000 after purchasing an additional 146,064 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Kinross Gold by 4.5% in the 4th quarter. Bank of America Corp DE now owns 3,884,088 shares of the mining company's stock worth $36,005,000 after purchasing an additional 168,169 shares in the last quarter. Manatuck Hill Partners LLC raised its stake in shares of Kinross Gold by 312.5% in the fourth quarter. Manatuck Hill Partners LLC now owns 158,400 shares of the mining company's stock worth $1,468,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Parvin Asset Management LLC bought a new position in shares of Kinross Gold during the fourth quarter valued at $623,000. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

NYSE KGC traded up $0.28 during mid-day trading on Friday, hitting $15.05. The stock had a trading volume of 19,486,174 shares, compared to its average volume of 18,016,931. The firm's 50 day moving average is $13.18 and its 200 day moving average is $11.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The stock has a market capitalization of $18.52 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a twelve month low of $7.20 and a twelve month high of $15.96.

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

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. Kinross Gold's payout ratio is currently 15.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KGC shares. BMO Capital Markets started coverage on Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Scotiabank boosted 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. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. CIBC boosted their price objective 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 reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Two investment 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. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and a consensus price target of $13.50.

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.