Wakefield Asset Management LLLP Makes New $3.43 Million Investment in Kinross Gold Co. (NYSE:KGC)

Wakefield Asset Management LLLP bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 369,748 shares of the mining company’s stock, valued at approximately $3,428,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC increased its stake in Kinross Gold by 747.0% during the 4th quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after buying an additional 4,788 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares in the last quarter. Valley National Advisers Inc. acquired a new position in Kinross Gold in the 4th quarter valued at $92,000. OneDigital Investment Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter valued at $94,000. Finally, EP Wealth Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth $95,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. CIBC increased their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Kinross Gold Price Performance

Kinross Gold stock opened at $10.61 on Friday. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.03 billion, a P/E ratio of 13.77, a PEG ratio of 0.68 and a beta of 1.24. The company has a 50-day moving average price of $10.64 and a 200 day moving average price of $9.98. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $12.28.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS for the quarter, missing the consensus estimate 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 anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold’s dividend payout ratio is presently 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.