Man Group plc Buys 5,871,904 Shares of Kinross Gold Co. (NYSE:KGC)

Man Group plc lifted its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 174.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,243,267 shares of the mining company's stock after buying an additional 5,871,904 shares during the period. Man Group plc owned about 0.75% of Kinross Gold worth $85,685,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Aprio Wealth Management LLC acquired a new stake in Kinross Gold in the 4th quarter valued at about $133,000. Fiduciary Financial Group LLC acquired a new stake in Kinross Gold in the 4th quarter valued at about $275,000. SeaCrest Wealth Management LLC acquired a new stake in Kinross Gold in the 4th quarter valued at about $202,000. Assenagon Asset Management S.A. lifted its position in Kinross Gold by 105.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 551,213 shares of the mining company's stock worth $5,113,000 after acquiring an additional 283,160 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Kinross Gold during the fourth quarter worth approximately $337,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KGC shares. Scotiabank raised their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a research report on Thursday, May 8th. Raymond James raised their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research report on Friday, April 4th. Stifel Canada upgraded shares of Kinross Gold to a "strong-buy" rating in a research report on Wednesday, March 19th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, National Bank Financial raised shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.90.

Kinross Gold Stock Performance

Shares of KGC traded down $0.05 during mid-day trading on Friday, hitting $13.71. 17,477,945 shares of the company's stock were exchanged, compared to its average volume of 18,182,449. Kinross Gold Co. has a 52 week low of $7.20 and a 52 week high of $15.96. The stock's 50-day simple moving average is $13.44 and its 200-day simple moving average is $11.42. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The firm's quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.03 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.88%. Kinross Gold's dividend payout ratio (DPR) is 12.24%.

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.