Bessemer Group Inc. Boosts Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Bessemer Group Inc. lifted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 19,099.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 42,622 shares of the mining company’s stock after buying an additional 42,400 shares during the quarter. Bessemer Group Inc.’s holdings in Kinross Gold were worth $395,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KGC. MML Investors Services LLC bought a new position in shares of Kinross Gold during the third quarter valued at $201,000. Public Employees Retirement System of Ohio bought a new position in Kinross Gold during the 3rd quarter valued at about $2,056,000. M&T Bank Corp purchased a new stake in shares of Kinross Gold during the 3rd quarter valued at about $100,000. Geode Capital Management LLC grew its stake in shares of Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after acquiring an additional 828,456 shares during the period. Finally, Te Ahumairangi Investment Management Ltd lifted its position in Kinross Gold by 6.4% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 298,800 shares of the mining company’s stock valued at $2,786,000 after purchasing an additional 18,000 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $14.64 on Wednesday. The stock has a market cap of $18.01 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. Kinross Gold Co. has a 1 year low of $6.20 and a 1 year high of $15.28. The firm has a fifty day moving average price of $11.94 and a 200-day moving average price of $10.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. Equities analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $0.03 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.82%. Kinross Gold’s payout ratio is 15.58%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KGC. Stifel Canada upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 4th. National Bank Financial upgraded shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. Raymond James boosted their target price 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. Finally, Scotiabank increased their price target on shares of Kinross Gold from $13.00 to $16.00 and gave the stock a “sector outperform” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $13.30.

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.