M&T Bank Corp Takes Position in Kinross Gold Co. (NYSE:KGC)

M&T Bank Corp bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,666 shares of the mining company’s stock, valued at approximately $100,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in shares of Kinross Gold by 26.3% in the 2nd quarter. Raymond James & Associates now owns 270,875 shares of the mining company’s stock worth $2,254,000 after purchasing an additional 56,324 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after buying an additional 9,375 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in shares of Kinross Gold by 143.4% during the 2nd quarter. AlphaCentric Advisors LLC now owns 26,828 shares of the mining company’s stock valued at $223,000 after acquiring an additional 15,806 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Kinross Gold during the 2nd quarter worth $4,464,000. Finally, Atomi Financial Group Inc. acquired a new position in shares of Kinross Gold in the 2nd quarter worth $221,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Up 2.0 %

Shares of Kinross Gold stock opened at $9.25 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $10.82. The stock has a 50-day moving average price of $9.97 and a 200 day moving average price of $9.18. The company has a market cap of $11.37 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.44 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last posted 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. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. As a group, analysts expect that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Kinross Gold 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.