Erste Asset Management GmbH Purchases Shares of 105,000 Kinross Gold Co. (NYSE:KGC)

Erste Asset Management GmbH acquired a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 105,000 shares of the mining company’s stock, valued at approximately $992,000.

Several other hedge funds also recently modified their holdings of the stock. Capstone Investment Advisors LLC acquired a new position in Kinross Gold during the third quarter valued at approximately $774,000. Gabelli Funds LLC boosted its holdings in shares of Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after buying an additional 194,700 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Kinross Gold in the third quarter valued at $780,000. Raymond James & Associates grew its position in shares of Kinross Gold by 25.7% in the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after acquiring an additional 69,520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after purchasing an additional 642,007 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KGC. Jefferies Financial Group raised their target price on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Scotiabank increased their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

NYSE KGC opened at $9.92 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The stock has a market cap of $12.19 billion, a PE ratio of 16.26, a PEG ratio of 0.43 and a beta of 1.21. The firm’s fifty day moving average price is $9.93 and its two-hundred day moving average price is $9.05.

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

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.21%. Kinross Gold’s dividend payout ratio is 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.