Advisor Resource Council Purchases New Shares in Kinross Gold Co. (NYSE:KGC)

Advisor Resource Council acquired a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 10,000 shares of the mining company’s stock, valued at approximately $60,000.

A number of other large investors also recently bought and sold shares of KGC. Norges Bank purchased a new position in Kinross Gold during the 4th quarter worth $265,327,000. Boston Partners raised its position in Kinross Gold by 44.0% during the 4th quarter. Boston Partners now owns 16,898,452 shares of the mining company’s stock worth $102,236,000 after buying an additional 5,162,124 shares during the last quarter. CIBC Asset Management Inc raised its position in Kinross Gold by 183.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,445,008 shares of the mining company’s stock worth $26,990,000 after buying an additional 2,879,269 shares during the last quarter. Triasima Portfolio Management inc. raised its position in Kinross Gold by 110.4% during the 4th quarter. Triasima Portfolio Management inc. now owns 4,885,850 shares of the mining company’s stock worth $29,627,000 after buying an additional 2,563,850 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Kinross Gold by 53.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 5,939,895 shares of the mining company’s stock worth $36,010,000 after buying an additional 2,076,920 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Jefferies Financial Group upped their price target on shares of Kinross Gold from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.59.

Kinross Gold Price Performance

NYSE KGC traded up $0.27 during trading hours on Thursday, reaching $8.29. The company’s stock had a trading volume of 8,111,187 shares, compared to its average volume of 15,992,394. The stock has a market cap of $10.19 billion, a PE ratio of 23.03, a PEG ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a fifty-two week low of $4.32 and a fifty-two week high of $8.42. The company’s 50-day moving average is $7.61 and its two-hundred day moving average is $6.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. Analysts forecast that Kinross Gold Co. will post 0.52 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.45%. Kinross Gold’s dividend payout ratio is currently 30.56%.

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.