Caprock Group LLC Grows Holdings in Kinross Gold Co. (NYSE:KGC)

Caprock Group LLC raised its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 16.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,824 shares of the mining company’s stock after purchasing an additional 13,695 shares during the period. Caprock Group LLC’s holdings in Kinross Gold were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KGC. Swiss National Bank grew its holdings in Kinross Gold by 0.8% during the 3rd quarter. Swiss National Bank now owns 3,717,118 shares of the mining company’s stock worth $34,878,000 after acquiring an additional 29,400 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in Kinross Gold in the third quarter valued at about $5,781,000. Mount Lucas Management LP raised its stake in Kinross Gold by 2.7% during the third quarter. Mount Lucas Management LP now owns 179,664 shares of the mining company’s stock valued at $1,682,000 after buying an additional 4,771 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Kinross Gold by 56.4% during the 3rd quarter. Natixis Advisors LLC now owns 100,181 shares of the mining company’s stock worth $938,000 after buying an additional 36,132 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Kinross Gold by 8.6% in the 3rd quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock worth $56,705,000 after acquiring an additional 477,529 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

KGC has been the topic of several research analyst reports. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank boosted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $10.05 on Friday. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market cap of $12.35 billion, a PE ratio of 16.34, a P/E/G ratio of 0.49 and a beta of 1.22. The stock has a 50 day simple moving average of $9.87 and a 200-day simple moving average of $8.89.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. On average, equities research analysts forecast that Kinross Gold Co. will post 0.69 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, November 29th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

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.