Northern Trust Corp Purchases 528,339 Shares of Kinross Gold Co. (NYSE:KGC)

Northern Trust Corp increased its position in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 80.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,185,021 shares of the mining company's stock after buying an additional 528,339 shares during the period. Northern Trust Corp owned 0.10% of Kinross Gold worth $10,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KGC. Van ECK Associates Corp boosted its position in Kinross Gold by 62.2% during the fourth 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 period. Vanguard Group Inc. boosted its position in Kinross Gold by 1.6% during the fourth 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 period. Renaissance Technologies LLC boosted its position in Kinross Gold by 10.9% during the fourth 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 period. Norges Bank bought a new stake in Kinross Gold during the fourth quarter worth approximately $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Kinross Gold by 10.5% during the fourth 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 period. Institutional investors and hedge funds own 63.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Scotiabank upped their target price 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. Raymond James upped their target price on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a research report on Friday, April 4th. Finally, National Bank Financial raised Kinross Gold to a "strong-buy" rating in a research report on Friday, March 21st. Two analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of "Buy" and a consensus target price of $14.50.

Kinross Gold Stock Performance

Shares of KGC traded down $0.15 during mid-day trading on Thursday, hitting $14.49. The company's stock had a trading volume of 19,310,189 shares, compared to its average volume of 18,264,624. Kinross Gold Co. has a one year low of $7.20 and a one year high of $15.96. 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 capitalization of $17.83 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The stock's 50-day moving average is $13.66 and its two-hundred day moving average is $11.54.

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 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the business earned $0.10 earnings per share. Kinross Gold's revenue for the quarter was up 38.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a $0.03 dividend. The ex-dividend date is Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.83%. Kinross Gold's dividend payout ratio (DPR) is currently 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.