Two Sigma Advisers LP Buys 843,399 Shares of Kinross Gold Co. (NYSE:KGC)

Two Sigma Advisers LP lifted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 44.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,721,500 shares of the mining company’s stock after purchasing an additional 843,399 shares during the quarter. Two Sigma Advisers LP owned 0.22% of Kinross Gold worth $25,228,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KGC. Van ECK Associates Corp increased its position in shares of 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 valued at $1,078,330,000 after buying an additional 44,610,091 shares during the period. Vanguard Group Inc. increased its holdings in Kinross Gold by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock worth $439,881,000 after acquiring an additional 763,248 shares during the period. Renaissance Technologies LLC lifted its stake in Kinross Gold by 10.9% in the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after purchasing an additional 3,224,455 shares in the last quarter. Norges Bank purchased a new stake in Kinross Gold in the 4th quarter worth approximately $280,697,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Kinross Gold by 10.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after purchasing an additional 1,398,225 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. National Bank Financial raised Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. CIBC restated an “outperform” rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Scotiabank upped their price objective on Kinross Gold from $16.00 to $17.00 and gave the stock a “sector outperform” rating in a report on Thursday, May 8th. Finally, Raymond James raised their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.90.

Kinross Gold Stock Up 2.7%

Shares of NYSE:KGC opened at $14.34 on Wednesday. The stock has a market capitalization of $17.64 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 0.68 and a beta of 0.64. The stock’s 50-day moving average price is $13.55 and its 200-day moving average price is $11.49. 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 12-month low of $7.20 and a 12-month high of $15.96.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.08. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period last year, the company earned $0.10 EPS. Kinross Gold’s revenue for the quarter was up 38.5% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Co. will post 0.81 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, June 12th. Investors of record on Thursday, May 29th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 29th. Kinross Gold’s payout ratio is 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.