Kinross Gold Co. (NYSE:KGC) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. lifted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,135,484 shares of the mining company’s stock after acquiring an additional 256,350 shares during the period. 1832 Asset Management L.P. owned about 0.66% of Kinross Gold worth $67,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Advisors LLC raised its position in shares of Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after acquiring an additional 1,828 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Kinross Gold by 1.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 130,473 shares of the mining company’s stock worth $790,000 after buying an additional 2,204 shares during the period. O Shaughnessy Asset Management LLC increased its position in Kinross Gold by 3.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after buying an additional 3,070 shares during the period. Oxbow Advisors LLC increased its position in Kinross Gold by 16.9% in the second quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock worth $188,000 after buying an additional 3,262 shares during the period. Finally, Pullen Investment Management LLC increased its position in Kinross Gold by 1.9% in the second quarter. Pullen Investment Management LLC now owns 190,973 shares of the mining company’s stock worth $1,589,000 after buying an additional 3,536 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KGC. Jefferies Financial Group increased their target price on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank increased their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 17th. Finally, CIBC raised their price target on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.33.

Kinross Gold Trading Up 2.4 %

Shares of KGC stock opened at $9.56 on Monday. The stock has a 50-day simple moving average of $8.97 and a 200 day simple moving average of $7.76. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $10.10. The stock has a market capitalization of $11.75 billion, a P/E ratio of 26.56, a P/E/G ratio of 0.55 and a beta of 1.23. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Kinross Gold Co. will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a yield of 1.26%. Kinross Gold’s dividend payout ratio is currently 33.33%.

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.