Kinross Gold Co. (NYSE:KGC) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 183.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,342,959 shares of the mining company’s stock after buying an additional 1,514,970 shares during the quarter. Russell Investments Group Ltd.’s holdings in Kinross Gold were worth $21,721,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of KGC. Envestnet Asset Management Inc. lifted its holdings in shares of Kinross Gold by 241.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,706,637 shares of the mining company’s stock worth $15,821,000 after purchasing an additional 1,206,251 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Kinross Gold by 28.8% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 260,452 shares of the mining company’s stock worth $2,415,000 after buying an additional 58,243 shares during the last quarter. Wells Fargo & Company MN raised its stake in Kinross Gold by 5.9% in the 4th quarter. Wells Fargo & Company MN now owns 529,328 shares of the mining company’s stock valued at $4,907,000 after purchasing an additional 29,677 shares during the last quarter. Prudential PLC acquired a new position in Kinross Gold in the 4th quarter valued at about $270,000. Finally, Uniting Wealth Partners LLC acquired a new position in Kinross Gold in the 4th quarter valued at about $139,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 8.7 %

Shares of KGC stock opened at $13.00 on Thursday. The stock has a 50-day simple moving average of $11.73 and a 200 day simple moving average of $10.59. Kinross Gold Co. has a fifty-two week low of $6.20 and a fifty-two week high of $13.18. The stock has a market capitalization of $16.00 billion, a P/E ratio of 16.88, a P/E/G ratio of 0.68 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its 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 net margin of 18.43% and a return on equity of 12.65%. On average, sell-side analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is currently 15.58%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on KGC shares. Raymond James boosted their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a report on Friday, March 21st. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. CIBC lifted their price target on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 4th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.30.

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.