Kinross Gold Co. (NYSE:KGC) Shares Purchased by Citigroup Inc.

Citigroup Inc. increased its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 244.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 433,061 shares of the mining company’s stock after acquiring an additional 307,326 shares during the period. Citigroup Inc.’s holdings in Kinross Gold were worth $4,062,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Private Advisor Group LLC grew its position in shares of Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Kinross Gold by 2.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after buying an additional 1,235 shares during the last quarter. Cetera Advisors LLC boosted its holdings in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after buying an additional 1,828 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock worth $119,000 after buying an additional 2,180 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Kinross Gold by 9.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after buying an additional 2,200 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Trading Up 4.1 %

KGC opened at $9.92 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The company’s 50 day simple moving average is $9.93 and its two-hundred day simple moving average is $9.05. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 0.43 and a beta of 1.22.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is presently 19.67%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on KGC. Scotiabank lifted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has a consensus rating of “Buy” and a consensus price target of $11.13.

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.