Public Employees Retirement System of Ohio Acquires Shares of 219,477 Kinross Gold Co. (NYSE:KGC)

Public Employees Retirement System of Ohio bought a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 219,477 shares of the mining company’s stock, valued at approximately $2,056,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after acquiring an additional 3,405,478 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after purchasing an additional 2,267,999 shares during the period. Artemis Investment Management LLP lifted its position in shares of Kinross Gold by 28.0% in the 3rd quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after buying an additional 1,871,939 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Kinross Gold by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after buying an additional 1,777,076 shares during the period. Finally, Andra AP fonden bought a new stake in shares of Kinross Gold during the 2nd quarter valued at about $13,181,000. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the topic of a number of recent research reports. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group boosted their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.57 on Wednesday. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The business has a 50 day simple moving average of $10.01 and a 200 day simple moving average of $9.18.

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

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were issued a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.25%. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

About Kinross Gold

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.