Swiss National Bank Acquires 29,400 Shares of Kinross Gold Co. (NYSE:KGC)

Swiss National Bank grew its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,717,118 shares of the mining company’s stock after buying an additional 29,400 shares during the period. Swiss National Bank owned 0.30% of Kinross Gold worth $34,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans bought a new position in Kinross Gold during the third quarter valued at approximately $5,781,000. Mount Lucas Management LP lifted its position in Kinross Gold by 2.7% during the third quarter. Mount Lucas Management LP now owns 179,664 shares of the mining company’s stock valued at $1,682,000 after purchasing an additional 4,771 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Kinross Gold by 56.4% in the 3rd quarter. Natixis Advisors LLC now owns 100,181 shares of the mining company’s stock worth $938,000 after buying an additional 36,132 shares in the last quarter. CIBC Asset Management Inc increased its stake in Kinross Gold by 8.6% during the third quarter. CIBC Asset Management Inc now owns 6,050,512 shares of the mining company’s stock worth $56,705,000 after acquiring an additional 477,529 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $94,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE:KGC opened at $9.97 on Thursday. The firm has a 50 day moving average of $9.86 and a 200 day moving average of $8.88. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 0.48 and a beta of 1.22. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS 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 firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.12 EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, sell-side analysts predict that Kinross Gold Co. will post 0.69 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KGC shares. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank increased their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group lifted their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.