Integrated Advisors Network LLC Makes New $739,000 Investment in Kinross Gold Co. (NYSE:KGC)

Integrated Advisors Network LLC acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 58,600 shares of the mining company’s stock, valued at approximately $739,000.

Several other institutional investors and hedge funds have also recently modified their holdings of KGC. Norges Bank purchased a new position in Kinross Gold during the fourth quarter valued at $280,697,000. Man Group plc boosted its holdings in shares of Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock valued at $85,685,000 after purchasing an additional 5,871,904 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Kinross Gold by 80.9% during the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of 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. Finally, Merewether Investment Management LP bought a new stake in shares of Kinross Gold in the fourth quarter worth about $23,765,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $15.79 on Friday. The stock has a market cap of $19.37 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The stock has a 50 day moving average price of $14.57 and a 200-day moving average price of $12.12. Kinross Gold Co. has a one year low of $7.20 and a one year high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the company earned $0.10 earnings per share. Kinross Gold’s revenue was up 38.5% on a year-over-year basis. Equities analysts expect that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. Kinross Gold’s dividend payout ratio is presently 12.24%.

Analysts Set New Price Targets

A number of brokerages recently commented on KGC. BMO Capital Markets initiated coverage on Kinross Gold in a research note on Wednesday, April 16th. They set an “outperform” rating for the company. Raymond James increased their target price on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 4th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Scotiabank upped their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the company a “sector outperform” rating in a research note on Thursday, May 8th. Finally, Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Buy” and an average target price of $15.40.

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.