Natixis Advisors LLC Raises Stock Position in Kinross Gold Co. (NYSE:KGC)

Natixis Advisors LLC grew its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 56.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,181 shares of the mining company’s stock after purchasing an additional 36,132 shares during the period. Natixis Advisors LLC’s holdings in Kinross Gold were worth $938,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of KGC. Atlas Capital Advisors LLC purchased a new stake in Kinross Gold during the second quarter worth about $40,000. Bright Futures Wealth Management LLC. purchased a new stake in shares of Kinross Gold during the first quarter worth approximately $70,000. Fifth Third Bancorp increased its stake in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the period. Blue Trust Inc. increased its stake in shares of Kinross Gold by 113.1% during the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares during the period. Finally, Corundum Trust Company INC purchased a new stake in shares of Kinross Gold during the third quarter worth approximately $94,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KGC. Jefferies Financial Group upped their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank upped their target price 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 upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $9.79 on Thursday. The firm has a market capitalization of $12.03 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.47 and a beta of 1.22. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $9.92 and its two-hundred day moving average is $8.98.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. Research analysts forecast that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is currently 19.67%.

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.