2,563,602 Shares in Kinross Gold Co. (NYSE:KGC) Purchased by Merewether Investment Management LP

Merewether Investment Management LP acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,563,602 shares of the mining company’s stock, valued at approximately $23,765,000. Merewether Investment Management LP owned about 0.21% of Kinross Gold at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KGC. 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 valued at $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Norges Bank bought a new stake in Kinross Gold during the 4th quarter valued at $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 valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Renaissance Technologies LLC raised its position in Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock valued at $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Finally, 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 valued at $30,141,000 after purchasing an additional 2,065,693 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KGC. National Bankshares reiterated an “outperform” rating on shares of Kinross Gold in a report on Wednesday, April 23rd. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Raymond James boosted their target price on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 4th. BMO Capital Markets started coverage on Kinross Gold in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $13.50.

Kinross Gold Stock Down 9.1%

Shares of Kinross Gold stock opened at $13.69 on Tuesday. The company has a fifty day moving average price of $13.22 and a 200 day moving average price of $11.35. 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 twelve month low of $7.20 and a twelve month high of $15.96. The stock has a market cap of $16.84 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.08. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS. Equities research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, May 29th. 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.