Bessemer Group Inc. Purchases 112,800 Shares of Kinross Gold Corporation (NYSE:KGC)

Bessemer Group Inc. increased its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 264.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 155,422 shares of the mining company's stock after purchasing an additional 112,800 shares during the period. Bessemer Group Inc.'s holdings in Kinross Gold were worth $1,960,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in 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 valued at $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings in shares of 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 purchasing an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Kinross Gold in the 4th quarter worth $42,000. Global Retirement Partners LLC lifted its stake in Kinross Gold by 747.0% in the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company's stock worth $50,000 after purchasing an additional 4,788 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Kinross Gold by 188.6% during the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Stock Up 0.6%

Kinross Gold stock traded up $0.09 during mid-day trading on Wednesday, reaching $15.62. The stock had a trading volume of 11,651,543 shares, compared to its average volume of 18,761,525. The company has a 50-day moving average price of $14.89 and a two-hundred day moving average price of $12.60. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.64 and a beta of 0.63. Kinross Gold Corporation has a one year low of $7.84 and a one year high of $16.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22.

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 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. On average, analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.77%. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price target for the company in a research report on Monday. CIBC reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Jefferies Financial Group raised Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Finally, BMO Capital Markets started coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $17.00.

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.