Kinross Gold Co. (NYSE:KGC) Shares Purchased by Citigroup Inc.

Citigroup Inc. boosted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 244.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 433,061 shares of the mining company’s stock after purchasing an additional 307,326 shares during the period. Citigroup Inc.’s holdings in Kinross Gold were worth $4,062,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KGC. Cetera Advisors LLC grew its stake in shares of Kinross Gold by 10.1% in the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after acquiring an additional 1,828 shares in the last quarter. First Hawaiian Bank acquired a new position in shares of Kinross Gold in the second quarter worth $129,000. Fulton Bank N.A. acquired a new position in shares of Kinross Gold in the second quarter worth $144,000. OLD National Bancorp IN acquired a new position in shares of Kinross Gold in the second quarter worth $95,000. Finally, Artemis Investment Management LLP grew its stake in shares of Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of analyst reports. Scotiabank boosted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their target price 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. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Kinross Gold has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $9.92 on Wednesday. The company has a 50-day simple moving average of $9.93 and a 200-day simple moving average of $9.05. Kinross Gold Co. has a one year low of $4.75 and a one year high of $10.82. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.43 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $0.12 earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year. On average, analysts predict that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

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