Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,102,334 shares of the mining company’s stock, valued at approximately $8,091,000.
Other large investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board grew its stake in shares of Kinross Gold by 7.6% in the fourth quarter. Public Sector Pension Investment Board now owns 2,586,992 shares of the mining company’s stock valued at $18,966,000 after buying an additional 182,964 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Kinross Gold by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 144,215,456 shares of the mining company’s stock valued at $1,271,980,000 after acquiring an additional 13,911,897 shares during the period. Brookstone Capital Management acquired a new position in Kinross Gold in the 4th quarter valued at about $80,000. Pendal Group Limited purchased a new stake in Kinross Gold during the fourth quarter worth about $6,643,000. Finally, Scotia Capital Inc. lifted its position in shares of Kinross Gold by 210.7% during the fourth quarter. Scotia Capital Inc. now owns 300,111 shares of the mining company’s stock worth $2,203,000 after purchasing an additional 203,512 shares in the last quarter. Institutional investors own 51.64% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Kinross Gold from $14.75 to $14.50 and set a “buy” rating on the stock in a report on Monday, February 8th. JPMorgan Chase & Co. started coverage on Kinross Gold in a report on Wednesday, February 10th. They set a “focus list” rating on the stock. National Bank Financial reiterated an “outperform” rating on shares of Kinross Gold in a research note on Monday, January 11th. Barclays increased their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. Finally, TD Securities cut their price target on Kinross Gold from $14.00 to $13.50 and set a “buy” rating on the stock in a research note on Friday, February 12th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Kinross Gold has a consensus rating of “Buy” and a consensus price target of $11.57.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, February 9th. The mining company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Kinross Gold had a net margin of 26.92% and a return on equity of 14.20%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.13 earnings per share. On average, equities research analysts forecast that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Wednesday, March 3rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.67%. The ex-dividend date was Tuesday, March 2nd. Kinross Gold’s payout ratio is currently 35.29%.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in Canada, the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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