Wexford Capital LP purchased a new stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,450 shares of the mining company's stock, valued at approximately $338,000.
Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp increased its position in Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Norges Bank purchased a new stake in Kinross Gold during the 4th quarter worth about $280,697,000. Man Group plc increased its position in Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock worth $85,685,000 after purchasing an additional 5,871,904 shares in the last quarter. First Eagle Investment Management LLC increased its position in Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock worth $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on KGC shares. Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Scotiabank lifted their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. BMO Capital Markets started coverage on Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Finally, National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research note on Friday, March 21st. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $14.50.
Check Out Our Latest Research Report on KGC
Kinross Gold Trading Up 1.6%
Shares of NYSE KGC traded up $0.24 during midday trading on Friday, hitting $14.72. The stock had a trading volume of 16,990,220 shares, compared to its average volume of 18,268,799. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a 1-year low of $7.20 and a 1-year 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. The company has a fifty day moving average price of $13.72 and a 200 day moving average price of $11.58.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company's revenue was up 38.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, analysts predict that Kinross Gold Co. will post 0.81 earnings per share for the current year.
Kinross Gold Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.03 per share. 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 presently 12.24%.
Kinross Gold Profile
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Free Report)
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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