Canada Pension Plan Investment Board Buys Shares of 919,100 Kinross Gold Co. (NYSE:KGC)

Canada Pension Plan Investment Board acquired a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 919,100 shares of the mining company’s stock, valued at approximately $7,650,000. Canada Pension Plan Investment Board owned about 0.07% of Kinross Gold at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. SCP Investment LP raised its stake in Kinross Gold by 255.3% during the 4th quarter. SCP Investment LP now owns 66,800 shares of the mining company’s stock worth $379,000 after acquiring an additional 48,000 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Kinross Gold by 33.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,319,428 shares of the mining company’s stock valued at $32,183,000 after purchasing an additional 1,336,756 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Kinross Gold by 29.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 39,203 shares of the mining company’s stock valued at $237,000 after purchasing an additional 8,953 shares during the period. United Services Automobile Association purchased a new stake in shares of Kinross Gold during the fourth quarter valued at $287,000. Finally, TD Asset Management Inc raised its holdings in shares of Kinross Gold by 0.4% in the fourth quarter. TD Asset Management Inc now owns 3,909,915 shares of the mining company’s stock valued at $23,781,000 after acquiring an additional 15,218 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KGC. CIBC raised their price target on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group raised their price target on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Kinross Gold Trading Up 1.5 %

Shares of NYSE:KGC opened at $9.75 on Wednesday. The company has a market cap of $11.98 billion, a PE ratio of 27.08, a P/E/G ratio of 0.55 and a beta of 1.23. The company’s 50 day moving average is $8.98 and its two-hundred day moving average is $7.82. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last posted 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. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.14 EPS. Equities analysts predict that Kinross Gold Co. will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio is presently 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.