Wexford Capital LP Buys New Stake in Kinross Gold Co. (NYSE:KGC)

Wexford Capital LP purchased a new stake in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 36,450 shares of the mining company's stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. Van ECK Associates Corp lifted its position in shares of 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 during the last quarter. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company's stock worth $439,881,000 after purchasing an additional 763,248 shares during the last quarter. 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. Norges Bank purchased a new stake in shares of Kinross Gold during the 4th quarter worth $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company's stock worth $136,028,000 after purchasing an additional 1,398,225 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Up 1.8%

NYSE KGC opened at $13.95 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The firm has a market cap of $17.16 billion, a PE ratio of 18.12, a P/E/G ratio of 0.68 and a beta of 0.64. Kinross Gold Co. has a one year low of $7.20 and a one year high of $15.96. The firm's fifty day moving average is $13.49 and its two-hundred day moving average is $11.47.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted 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 net margin of 18.43% and a return on equity of 12.65%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Kinross Gold's quarterly revenue was up 38.5% on a year-over-year basis. Analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.86%. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KGC shares. StockNews.com upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 18th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a research note on Tuesday, May 13th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research note on Wednesday, April 16th. They set an "outperform" rating on the stock. Finally, Raymond James lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price 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.

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