Massachusetts Financial Services Co. MA Makes New $118,000 Investment in Kinross Gold Co. (NYSE:KGC)

Massachusetts Financial Services Co. MA bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, HoldingsChannel.com reports. The firm bought 12,699 shares of the mining company’s stock, valued at approximately $118,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its position in Kinross Gold by 109.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after acquiring an additional 1,412 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in Kinross Gold by 30.4% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after acquiring an additional 1,002 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Kinross Gold during the fourth quarter valued at about $42,000. Global Retirement Partners LLC raised its position in shares of Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock valued at $50,000 after buying an additional 4,788 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after buying an additional 5,140 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE KGC opened at $13.00 on Thursday. The stock has a market cap of $16.00 billion, a P/E ratio of 16.88, a PEG ratio of 0.68 and a beta of 1.12. The company’s 50-day simple moving average is $11.73 and its 200 day simple moving average is $10.59. Kinross Gold Co. has a twelve month low of $6.20 and a twelve month high of $13.18. 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 posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. As a group, research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.92%. Kinross Gold’s dividend payout ratio is 15.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KGC. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC upped their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 4th. Finally, Raymond James upped their price objective on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.