Goldman Sachs Group Inc. Purchases 170,761 Shares of Kinross Gold Co. (NYSE:KGC)

Goldman Sachs Group Inc. increased its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,677,952 shares of the mining company’s stock after acquiring an additional 170,761 shares during the quarter. Goldman Sachs Group Inc. owned about 0.38% of Kinross Gold worth $28,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Kinross Gold by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after purchasing an additional 463,035 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Kinross Gold by 23.5% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after purchasing an additional 179,933 shares during the period. Wellington Management Group LLP increased its holdings in shares of Kinross Gold by 975.2% during the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock worth $2,543,000 after purchasing an additional 503,799 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Kinross Gold by 248.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock worth $2,021,000 after purchasing an additional 238,219 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Kinross Gold by 4.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock worth $17,285,000 after purchasing an additional 124,055 shares during the period. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on KGC shares. BMO Capital Markets boosted their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Scotiabank lifted their target price on shares of Kinross Gold from $8.00 to $9.50 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Finally, Jefferies Financial Group lifted their target price on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.59.

Kinross Gold Price Performance

NYSE:KGC opened at $7.62 on Monday. Kinross Gold Co. has a 12 month low of $4.32 and a 12 month high of $8.27. The company’s 50-day moving average price is $7.36 and its two-hundred day moving average price is $6.26. The firm has a market cap of $9.37 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 0.50 and a beta of 1.23. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned $0.07 earnings per share. Kinross Gold’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that Kinross Gold Co. will post 0.51 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.57%. Kinross Gold’s payout ratio is 33.33%.

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.