Massachusetts Financial Services Co. MA Acquires Shares of 12,699 Kinross Gold Co. (NYSE:KGC)

Massachusetts Financial Services Co. MA bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,699 shares of the mining company’s stock, valued at approximately $118,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Quantinno Capital Management LP grew its stake in Kinross Gold by 12.0% in the third quarter. Quantinno Capital Management LP now owns 37,026 shares of the mining company’s stock worth $347,000 after purchasing an additional 3,958 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $95,000. XTX Topco Ltd bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $783,000. MML Investors Services LLC bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $201,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Kinross Gold during the third quarter valued at approximately $2,056,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Trading Up 8.7 %

NYSE KGC opened at $13.00 on Thursday. Kinross Gold Co. has a twelve month low of $6.20 and a twelve month high of $13.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 0.68 and a beta of 1.12. The firm’s 50 day moving average price is $11.73 and its two-hundred day moving average price is $10.59.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 EPS 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%. Equities analysts anticipate that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th. Raymond James upped their price target on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Finally, CIBC upped their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has an average rating of “Buy” and a consensus price target of $12.30.

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.