Blueshift Asset Management LLC Invests $199,000 in Kinross Gold Co. (NYSE:KGC)

Blueshift Asset Management LLC acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,217 shares of the mining company’s stock, valued at approximately $199,000.

Several other institutional investors and hedge funds have also bought and sold shares of KGC. Bridgewater Associates LP raised its stake in shares of Kinross Gold by 88.5% in the third quarter. Bridgewater Associates LP now owns 551,203 shares of the mining company’s stock valued at $5,170,000 after buying an additional 258,795 shares during the period. Freedom Investment Management Inc. purchased a new stake in Kinross Gold in the 3rd quarter worth about $580,000. BNP Paribas Financial Markets lifted its holdings in Kinross Gold by 326.6% during the third quarter. BNP Paribas Financial Markets now owns 1,304,595 shares of the mining company’s stock valued at $12,211,000 after purchasing an additional 998,763 shares during the last quarter. FMR LLC boosted its position in Kinross Gold by 18.0% during the third quarter. FMR LLC now owns 2,896,047 shares of the mining company’s stock worth $27,131,000 after purchasing an additional 441,202 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Kinross Gold by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock worth $66,509,000 after purchasing an additional 480,568 shares during the period. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Down 0.9 %

Kinross Gold stock opened at $9.71 on Friday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.44 and a beta of 1.22. 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 12 month low of $4.75 and a 12 month high of $10.82. The stock has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $9.00.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results 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 return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 earnings per share. Kinross Gold’s revenue was up 29.9% on a year-over-year basis. Equities analysts predict that Kinross Gold Co. will post 0.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

Analyst Ratings Changes

Several equities research analysts have issued reports on KGC shares. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Jefferies Financial Group raised 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. Finally, Scotiabank upped their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $11.13.

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.