Bank of New York Mellon Corp Buys 92,996 Shares of Kinross Gold Corporation (NYSE:KGC)

Bank of New York Mellon Corp boosted its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 6.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,559,632 shares of the mining company's stock after buying an additional 92,996 shares during the period. Bank of New York Mellon Corp owned 0.13% of Kinross Gold worth $19,667,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Kinross Gold during the 4th quarter valued at about $280,697,000. Renaissance Technologies LLC boosted its holdings in shares of Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Kinross Gold by 8.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 237,612 shares of the mining company's stock worth $2,204,000 after buying an additional 18,135 shares during the period. Trexquant Investment LP boosted its holdings in shares of Kinross Gold by 144.6% in the fourth quarter. Trexquant Investment LP now owns 2,023,864 shares of the mining company's stock worth $18,761,000 after buying an additional 1,196,355 shares during the period. Finally, State of Wyoming lifted its position in shares of Kinross Gold by 56.5% in the fourth quarter. State of Wyoming now owns 120,777 shares of the mining company's stock worth $1,120,000 after purchasing an additional 43,595 shares in the last quarter. Institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on KGC. Jefferies Financial Group upgraded Kinross Gold from a "hold" rating to a "buy" rating and increased their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Scotiabank lifted their price target on Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada lifted their price target on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. CIBC lifted their price target on Kinross Gold from $16.00 to $21.00 and gave the company an "outperformer" rating in a report on Tuesday, July 15th. Finally, Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research report on Monday, June 30th. Two investment 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 company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $18.00.

Kinross Gold Stock Down 0.9%

Shares of Kinross Gold stock traded down $0.14 on Friday, reaching $15.29. 14,167,468 shares of the company were exchanged, compared to its average volume of 18,678,076. Kinross Gold Corporation has a one year low of $7.84 and a one year high of $16.10. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.60 and a beta of 0.63. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $15.11 and a 200 day moving average of $13.16.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

About Kinross Gold

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.