Pictet Asset Management Holding SA Purchases 56,260 Shares of Kinross Gold Co. (NYSE:KGC)

Pictet Asset Management Holding SA lifted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 9.4% in the 4th quarter, Holdings Channel reports. The fund owned 653,195 shares of the mining company’s stock after buying an additional 56,260 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Kinross Gold were worth $6,063,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Norges Bank bought a new position in Kinross Gold in the 4th quarter worth approximately $280,697,000. First Eagle Investment Management LLC grew its stake in Kinross Gold by 80.9% in the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after buying an additional 5,639,383 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Kinross Gold by 174.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company’s stock valued at $30,141,000 after acquiring an additional 2,065,693 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Kinross Gold by 15.4% during the fourth quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock worth $124,578,000 after acquiring an additional 1,793,065 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. CIBC upped their price target on 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 report on Saturday, March 22nd. Finally, National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Stock Down 1.3 %

KGC stock opened at $12.69 on Friday. The company’s 50 day moving average is $11.58 and its 200 day moving average is $10.47. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 1-year low of $6.20 and a 1-year high of $12.90.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 12th. The mining company reported $0.20 earnings per share 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 predict that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 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.