World Investment Advisors Invests $218,000 in Kinross Gold Corporation (NYSE:KGC)

World Investment Advisors bought a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,311 shares of the mining company's stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in KGC. Norges Bank bought a new stake in shares of Kinross Gold in the fourth quarter valued at about $280,697,000. Man Group plc boosted its position in Kinross Gold by 174.2% in the fourth quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after buying an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company's stock valued at $116,898,000 after buying an additional 5,639,383 shares during the last quarter. Artemis Investment Management LLP boosted its position in Kinross Gold by 365.8% in the first quarter. Artemis Investment Management LLP now owns 6,876,921 shares of the mining company's stock valued at $86,718,000 after buying an additional 5,400,447 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Kinross Gold by 10.9% in 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. 63.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KGC. CIBC reiterated 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 increased their price objective for the company from $14.00 to $18.00 in a research note on Thursday, June 26th. Scotiabank increased their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Royal Bank Of Canada raised their target price on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, National Bankshares restated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Kinross Gold has an average rating of "Buy" and an average target price of $17.00.

Kinross Gold Trading Up 1.4%

KGC opened at $15.55 on Friday. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.62 and a beta of 0.63. Kinross Gold Corporation has a 52 week low of $7.84 and a 52 week high of $16.10. The business's 50 day moving average is $15.07 and its two-hundred day moving average is $12.92. The company has a quick ratio of 1.22, a current ratio of 2.83 and a debt-to-equity ratio of 0.17.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.22 by $0.08. The company 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 15.63% and a net margin of 21.74%. The firm's revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, research analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

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

About Kinross Gold

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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