Gotham Asset Management LLC Boosts Stock Position in Kinross Gold Co. (NYSE:KGC)

Gotham Asset Management LLC grew its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 56.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 597,324 shares of the mining company’s stock after purchasing an additional 216,710 shares during the quarter. Gotham Asset Management LLC’s holdings in Kinross Gold were worth $5,537,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp lifted its holdings in shares of Kinross Gold by 109.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after buying an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Kinross Gold by 30.4% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after buying an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Kinross Gold in the 4th quarter worth $42,000. Global Retirement Partners LLC lifted its holdings in shares of Kinross Gold by 747.0% in 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 during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of Kinross Gold by 246.3% in the 4th quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after buying an additional 5,140 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank upped their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Raymond James upped their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC upped their price objective on Kinross Gold from $14.00 to $16.00 and gave the stock an “outperformer” rating in a research note on Tuesday. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Buy” and an average price target of $13.90.

Kinross Gold Trading Up 0.5%

Shares of NYSE KGC opened at $13.77 on Wednesday. The business has a fifty day moving average price of $13.28 and a 200 day moving average price of $11.36. Kinross Gold Co. has a 1-year low of $7.20 and a 1-year high of $15.96. The stock has a market capitalization of $16.94 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the company posted $0.10 EPS. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. Equities research analysts expect that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold’s dividend payout ratio is currently 12.24%.

About Kinross Gold

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.