Kinross Gold Corporation $KGC Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.9% during the third quarter, HoldingsChannel.com reports. The firm owned 3,113,458 shares of the mining company’s stock after buying an additional 87,694 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kinross Gold were worth $77,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of KGC. Vanguard Group Inc. grew its holdings in shares of Kinross Gold by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock worth $1,259,280,000 after purchasing an additional 1,553,594 shares during the period. Norges Bank purchased a new position in Kinross Gold in the second quarter valued at approximately $389,025,000. Man Group plc lifted its position in Kinross Gold by 47.8% during the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after buying an additional 5,411,491 shares in the last quarter. Geode Capital Management LLC lifted its position in Kinross Gold by 21.4% during the second quarter. Geode Capital Management LLC now owns 10,639,787 shares of the mining company’s stock valued at $172,571,000 after buying an additional 1,876,764 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in Kinross Gold by 50.6% during the third quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock worth $228,227,000 after buying an additional 3,089,959 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on KGC. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a research report on Wednesday, February 4th. Zacks Research downgraded Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Scotiabank raised their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, UBS Group set a $43.00 price objective on Kinross Gold in a research note on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.31.

Kinross Gold Trading Up 0.9%

KGC opened at $32.83 on Wednesday. The firm has a market capitalization of $39.39 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.59 and a beta of 0.73. The firm’s 50 day moving average is $33.63 and its 200-day moving average is $28.02. Kinross Gold Corporation has a 52-week low of $10.71 and a 52-week high of $39.11. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 EPS. Analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is currently 8.16%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.