15,437 Shares in Kinross Gold Co. (NYSE:KGC) Acquired by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd bought a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,437 shares of the mining company’s stock, valued at approximately $144,000.

Several other large investors also recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its position in shares of Kinross Gold by 8.7% during the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock worth $115,000 after purchasing an additional 981 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Kinross Gold by 2.7% during the third quarter. First Trust Direct Indexing L.P. now owns 47,796 shares of the mining company’s stock worth $447,000 after buying an additional 1,235 shares during the last quarter. Cetera Advisors LLC increased its holdings in Kinross Gold by 10.1% during the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock valued at $122,000 after purchasing an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Kinross Gold by 18.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,265 shares of the mining company’s stock valued at $119,000 after buying an additional 2,180 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Kinross Gold by 9.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after purchasing an additional 2,200 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on KGC shares. Scotiabank raised their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group boosted their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Performance

Shares of KGC stock opened at $9.92 on Wednesday. Kinross Gold Co. has a one year low of $4.75 and a one year high of $10.82. The firm has a 50-day moving average of $9.93 and a 200-day moving average of $9.05. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The company has a market cap of $12.19 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.43 and a beta of 1.21.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share 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 analyst estimates of $1.32 billion. During the same period in the previous year, the business earned $0.12 EPS. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. Equities research analysts forecast that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.21%. Kinross Gold’s dividend payout ratio (DPR) is 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.