Raymond James Financial Inc. Acquires Shares of 738,084 Kinross Gold Co. (NYSE:KGC)

Raymond James Financial Inc. acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 738,084 shares of the mining company’s stock, valued at approximately $6,842,000. Raymond James Financial Inc. owned about 0.06% of Kinross Gold at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in Kinross Gold in the fourth quarter valued at approximately $141,000. Atria Investments Inc acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $139,000. Tacita Capital Inc increased its holdings in shares of Kinross Gold by 6.4% in the fourth quarter. Tacita Capital Inc now owns 61,009 shares of the mining company’s stock valued at $565,000 after purchasing an additional 3,668 shares during the period. Schechter Investment Advisors LLC increased its holdings in shares of Kinross Gold by 2.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 39,569 shares of the mining company’s stock valued at $367,000 after purchasing an additional 1,080 shares during the period. Finally, DJE Kapital AG acquired a new position in shares of Kinross Gold in the fourth quarter valued at approximately $3,723,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 1.3 %

Shares of KGC stock opened at $12.17 on Monday. The business’s fifty day moving average price is $11.21 and its 200 day moving average price is $10.27. Kinross Gold Co. has a 1-year low of $5.67 and a 1-year high of $12.39. The firm has a market capitalization of $14.97 billion, a PE ratio of 15.80, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Wall Street Analyst Weigh In

KGC has been the topic of a number of recent research reports. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. CIBC boosted their target price on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $11.63.

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.