R Squared Ltd Buys Shares of 15,370 Kinross Gold Co. (NYSE:KGC)

R Squared Ltd purchased a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, Holdings Channel reports. The fund purchased 15,370 shares of the mining company’s stock, valued at approximately $142,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $774,000. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold during the third quarter worth $780,000. Geode Capital Management LLC grew its stake in shares of Kinross Gold by 16.9% in the third 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 last quarter. Raymond James & Associates increased its holdings in Kinross Gold by 25.7% in the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after purchasing an additional 69,520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Kinross Gold by 5.1% during 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. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of analyst reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group increased their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Trading Up 2.3 %

NYSE KGC opened at $11.12 on Thursday. Kinross Gold Co. has a one year low of $4.75 and a one year high of $11.31. 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 business has a 50 day simple moving average of $9.93 and a 200 day simple moving average of $9.59. The stock has a market capitalization of $13.67 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.90 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released 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 company had revenue of $1.43 billion during 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%. Kinross Gold’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 business posted $0.12 EPS. Research analysts expect that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.08%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Kinross Gold Company 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.