Addenda Capital Inc. Makes New $324,000 Investment in Kinross Gold Co. (NYSE:KGC)

Addenda Capital Inc. purchased a new position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 25,730 shares of the mining company's stock, valued at approximately $324,000.

A number of other large investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its position 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 worth $25,000 after buying an additional 1,412 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock valued at $40,000 after acquiring an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Kinross Gold in the 4th quarter worth approximately $42,000. Global Retirement Partners LLC lifted its holdings in Kinross Gold by 747.0% in the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock worth $50,000 after buying an additional 4,788 shares during the period. Finally, Valley National Advisers Inc. purchased a new stake in Kinross Gold in the 4th quarter worth approximately $92,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Down 0.1%

NYSE KGC traded down $0.02 during trading hours on Thursday, hitting $15.46. 23,302,326 shares of the company were exchanged, compared to its average volume of 18,509,671. The stock has a market cap of $18.96 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The stock has a 50-day moving average price of $14.21 and a 200 day moving average price of $11.90. Kinross Gold Co. has a 52 week low of $7.20 and a 52 week 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.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating 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 quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 dividend on an annualized basis and a dividend yield of 0.78%. Kinross Gold's payout ratio is 12.24%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KGC. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. National Bankshares restated an "outperform" rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Scotiabank lifted their target price on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Stifel Canada raised Kinross Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Finally, CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average target price of $15.40.

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.