Renaissance Technologies LLC Has $304.63 Million Stock Position in Kinross Gold Co. (NYSE:KGC)

Renaissance Technologies LLC increased its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,862,230 shares of the mining company’s stock after purchasing an additional 3,224,455 shares during the quarter. Kinross Gold comprises about 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 29th biggest position. Renaissance Technologies LLC’s holdings in Kinross Gold were worth $304,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Kinross Gold during the fourth quarter worth about $280,697,000. Mediolanum International Funds Ltd acquired a new stake in Kinross Gold in the 4th quarter valued at $2,506,000. Truist Financial Corp boosted its position in Kinross Gold by 48.2% during the fourth quarter. Truist Financial Corp now owns 302,057 shares of the mining company’s stock valued at $2,800,000 after purchasing an additional 98,196 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kinross Gold by 16.9% during the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after buying an additional 828,456 shares during the last quarter. Finally, DJE Kapital AG bought a new stake in shares of Kinross Gold in the 4th quarter valued at about $3,723,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 1.6 %

Shares of NYSE KGC opened at $11.98 on Tuesday. The firm has a market cap of $14.73 billion, a PE ratio of 15.55, a P/E/G ratio of 0.68 and a beta of 1.12. The company’s fifty day simple moving average is $11.63 and its 200 day simple moving average is $10.52. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12-month low of $6.20 and a 12-month high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, sell-side analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued 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 dividend yield of 1.00%. Kinross Gold’s dividend payout ratio is presently 15.58%.

Wall Street Analyst Weigh In

KGC has been the subject of several research reports. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. CIBC lifted their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday. Raymond James raised their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $12.30.

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.