Kinross Gold Co. (NYSE:KGC) Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board grew its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,400 shares of the mining company’s stock after acquiring an additional 4,163 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Kinross Gold were worth $1,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after purchasing an additional 497,531 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after acquiring an additional 194,700 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $780,000. Raymond James & Associates lifted its stake in Kinross Gold by 25.7% during the third quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after purchasing an additional 69,520 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Kinross Gold in the third quarter worth $2,699,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on KGC shares. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Kinross Gold Stock Down 0.3 %

KGC opened at $9.97 on Thursday. The stock’s 50 day moving average price is $9.86 and its 200 day moving average price is $8.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The stock has a market cap of $12.25 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.49 and a beta of 1.22. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. As a group, research analysts predict that Kinross Gold Co. will post 0.69 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.20%. Kinross Gold’s dividend payout ratio is currently 19.67%.

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.