Parvin Asset Management LLC Makes New $623,000 Investment in Kinross Gold Co. (NYSE:KGC)

Parvin Asset Management LLC bought a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 67,175 shares of the mining company’s stock, valued at approximately $623,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp increased its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Vanguard Group Inc. increased its stake in shares of Kinross Gold by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after buying an additional 763,248 shares during the period. Renaissance Technologies LLC boosted its position in Kinross Gold by 10.9% during the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Norges Bank acquired a new stake in Kinross Gold in the fourth quarter worth about $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kinross Gold by 10.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after acquiring an additional 1,398,225 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Monday, April 14th. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 18th. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, National Bankshares restated an “outperform” rating on shares of Kinross Gold in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Kinross Gold currently has an average rating of “Buy” and an average price target of $13.30.

Kinross Gold Trading Down 1.4 %

Shares of KGC opened at $14.58 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $6.42 and a 12-month high of $15.46. The firm has a 50-day moving average price of $12.56 and a 200 day moving average price of $11.07. The firm has a market capitalization of $17.94 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.68 and a beta of 1.12.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Sell-side analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.82%. Kinross Gold’s payout ratio is currently 15.58%.

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.