Russell Investments Group Ltd. Purchases 1,514,970 Shares of Kinross Gold Co. (NYSE:KGC)

Russell Investments Group Ltd. grew its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 183.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,342,959 shares of the mining company’s stock after buying an additional 1,514,970 shares during the period. Russell Investments Group Ltd. owned 0.19% of Kinross Gold worth $21,721,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after buying an additional 44,610,091 shares during the last quarter. Norges Bank purchased a new position in Kinross Gold during the 4th quarter worth approximately $280,697,000. First Eagle Investment Management LLC raised its position in Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the last quarter. Hillsdale Investment Management Inc. raised its position 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 worth $30,141,000 after buying an additional 2,065,693 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Kinross Gold by 34.1% during the 4th quarter. Geode Capital Management LLC now owns 7,682,835 shares of the mining company’s stock worth $74,128,000 after buying an additional 1,952,552 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

NYSE:KGC opened at $13.00 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. The company has a 50 day moving average price of $11.73 and a 200-day moving average price of $10.59. Kinross Gold Co. has a 1-year low of $6.20 and a 1-year high of $13.18.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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 return on equity of 12.65% and a net margin of 18.43%. Equities research analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.92%. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 4th. Raymond James raised their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 4th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, CIBC lifted their target price on shares of 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 given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price 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.