Kinross Gold Co. (NYSE:KGC) Position Increased by State of Wyoming

State of Wyoming raised its position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 56.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,777 shares of the mining company's stock after purchasing an additional 43,595 shares during the period. State of Wyoming's holdings in Kinross Gold were worth $1,120,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. raised its position in shares of Kinross Gold by 93.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 185,313 shares of the mining company's stock valued at $1,718,000 after purchasing an additional 89,313 shares during the last quarter. Quadcap Wealth Management LLC acquired a new position in Kinross Gold in the 4th quarter worth about $438,000. Quantinno Capital Management LP raised its stake in shares of Kinross Gold by 24.0% during the 4th quarter. Quantinno Capital Management LP now owns 45,921 shares of the mining company's stock worth $426,000 after buying an additional 8,895 shares during the period. Man Group plc lifted its holdings in Kinross Gold by 174.2% during the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after purchasing an additional 5,871,904 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in Kinross Gold during the fourth quarter valued at $671,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

KGC stock traded up $0.29 during trading on Wednesday, reaching $14.66. 25,143,820 shares of the company were exchanged, compared to its average volume of 18,291,765. The company has a market cap of $18.03 billion, a P/E ratio of 19.03, a PEG ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a 52-week low of $7.20 and a 52-week high of $15.96. The stock's 50 day moving average price is $13.55 and its 200 day moving average price is $11.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 18.43% and a return on equity of 12.65%. Kinross Gold's revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. As a group, analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KGC shares. CIBC restated 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 report on Friday, April 18th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. BMO Capital Markets began coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, 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 report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $13.90.

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.