Kinross Gold Corporation (NYSE:KGC) Shares Bought by Bessemer Group Inc.

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

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Kinross Gold in the fourth quarter worth approximately $280,697,000. Renaissance Technologies LLC lifted its position in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company's stock worth $304,633,000 after purchasing an additional 3,224,455 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Kinross Gold by 8.3% during 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 purchasing an additional 18,135 shares in the last quarter. DJE Kapital AG purchased a new position in Kinross Gold in the fourth quarter valued at $3,723,000. Finally, Amundi increased its holdings in Kinross Gold by 9.3% in the fourth quarter. Amundi now owns 5,794,489 shares of the mining company's stock valued at $53,715,000 after buying an additional 492,611 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC opened at $14.86 on Friday. The company's 50 day simple moving average is $14.86 and its 200-day simple moving average is $12.52. The firm has a market cap of $18.22 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. Kinross Gold Corporation has a 12-month low of $7.84 and a 12-month high of $16.04. The company has a current ratio of 2.83, a quick ratio of 1.22 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings results 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 firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter in the prior year, the business earned $0.10 EPS. Kinross Gold's quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is presently 12.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on KGC. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday. CIBC reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. Raymond James Financial increased their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Friday, April 4th. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $14.00 to $18.00 in a research report on Thursday. Finally, Scotiabank upped 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, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price 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.

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