Hussman Strategic Advisors Inc. Has $3.86 Million Stock Position in Kinross Gold Corporation (NYSE:KGC)

Hussman Strategic Advisors Inc. lifted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 1,100.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,000 shares of the mining company’s stock after acquiring an additional 280,500 shares during the quarter. Kinross Gold makes up approximately 0.9% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 14th largest position. Hussman Strategic Advisors Inc.’s holdings in Kinross Gold were worth $3,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after acquiring an additional 763,248 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Kinross Gold by 10.9% in the fourth quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after acquiring an additional 3,224,455 shares during the last quarter. Norges Bank acquired a new stake in shares of Kinross Gold in the fourth quarter valued at about $280,697,000. Mackenzie Financial Corp increased its position in shares of Kinross Gold by 21.2% in the fourth quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company’s stock valued at $129,435,000 after acquiring an additional 2,438,445 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Kinross Gold by 15.4% in the fourth quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock valued at $124,578,000 after acquiring an additional 1,793,065 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a report on Tuesday, June 24th. BMO Capital Markets started coverage on Kinross Gold in a report on Wednesday, April 16th. They set an “outperform” rating for the company. Scotiabank lifted their price target on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Finally, Raymond James Financial upgraded Kinross Gold to a “hold” rating and set a $15.00 price target for the company in a report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $18.00.

Kinross Gold Price Performance

KGC traded up $0.03 during trading on Friday, hitting $15.46. 1,425,795 shares of the stock traded hands, compared to its average volume of 18,619,760. Kinross Gold Corporation has a twelve month low of $7.84 and a twelve month high of $16.10. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 0.63 and a beta of 0.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.83 and a quick ratio of 1.22. The business has a 50 day moving average price of $15.11 and a 200 day moving average price of $13.09.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.22 by $0.08. Kinross Gold had a net margin of 21.74% and a return on equity of 15.63%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue was up 38.5% on a year-over-year basis. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th were issued a dividend of $0.03 per share. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.78%. Kinross Gold’s dividend payout ratio (DPR) is presently 12.24%.

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.