Envestnet Portfolio Solutions Inc. Purchases New Stake in Kinross Gold Co. (NYSE:KGC)

Envestnet Portfolio Solutions Inc. purchased a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,130 shares of the mining company’s stock, valued at approximately $873,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in Kinross Gold by 62.2% in 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 acquiring an additional 44,610,091 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kinross Gold by 10.5% in the fourth 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 acquiring an additional 1,398,225 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after acquiring an additional 5,639,383 shares in the last quarter. National Bank of Canada FI raised its holdings in Kinross Gold by 0.7% in the third quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after acquiring an additional 70,376 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Kinross Gold by 7.3% in the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after acquiring an additional 480,568 shares in the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. CIBC increased their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Kinross Gold has an average rating of “Buy” and a consensus target price of $11.63.

Kinross Gold Stock Down 1.3 %

Kinross Gold stock opened at $12.17 on Monday. The company has a 50-day simple moving average of $11.21 and a 200-day simple moving average of $10.27. The firm has a market capitalization of $14.97 billion, a P/E ratio of 15.80, a P/E/G ratio of 0.68 and a beta of 1.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold Co. has a one year low of $5.67 and a one year high of $12.39.

Kinross Gold (NYSE:KGC) (TSE:K) last released 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%. As a group, equities analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.03 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a dividend yield of 0.99%. Kinross Gold’s dividend payout ratio is currently 15.58%.

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.