Park Avenue Securities LLC Acquires New Position in Kinross Gold Co. (NYSE:KGC)

Park Avenue Securities LLC bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 36,369 shares of the mining company’s stock, valued at approximately $337,000.

Other hedge funds also recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $774,000. International Assets Investment Management LLC acquired a new position in Kinross Gold in the third quarter valued at approximately $780,000. Geode Capital Management LLC raised its position in shares of Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after purchasing an additional 828,456 shares during the period. Raymond James & Associates raised its position in shares of Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Kinross Gold by 5.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after purchasing an additional 642,007 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $10.69 on Friday. The firm’s 50-day simple moving average is $9.87 and its 200 day simple moving average is $9.54. The stock has a market cap of $13.13 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.90 and a beta of 1.21. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities analysts expect that Kinross Gold Co. will post 0.72 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio is presently 19.67%.

Wall Street Analyst Weigh In

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