Intech Investment Management LLC Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Intech Investment Management LLC purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 264,433 shares of the mining company’s stock, valued at approximately $2,480,000.

Several other hedge funds and other institutional investors have also made changes to their positions in KGC. Private Advisor Group LLC increased its position in shares of Kinross Gold by 8.7% during the third quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after acquiring an additional 981 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Kinross Gold by 2.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after purchasing an additional 1,235 shares during the period. Cetera Advisors LLC raised its position in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after purchasing an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Kinross Gold by 18.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Kinross Gold by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after buying an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.00.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $10.22 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The firm has a market capitalization of $12.56 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.50 and a beta of 1.22. The company’s fifty day moving average price is $9.89 and its 200 day moving average price is $8.95.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 earnings per share. As a group, sell-side analysts predict that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.17%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

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.