Gamco Investors INC. ET AL Buys 4,500 Shares of Kinross Gold Co. (NYSE:KGC)

Gamco Investors INC. ET AL increased its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 520,865 shares of the mining company’s stock after purchasing an additional 4,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Kinross Gold were worth $4,828,000 at the end of the most recent quarter.

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

Kinross Gold Stock Performance

KGC stock opened at $15.06 on Thursday. 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 Co. has a 1-year low of $6.31 and a 1-year high of $15.34. The business has a 50-day moving average price of $12.00 and a 200 day moving average price of $10.74. The company has a market capitalization of $18.53 billion, a P/E ratio of 19.56, a PEG ratio of 0.68 and a beta of 1.12.

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

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.80%. Kinross Gold’s dividend payout ratio is presently 15.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KGC. Raymond James increased their price target on Kinross Gold from $12.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 4th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Monday. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a research note on Wednesday, March 19th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research note on Wednesday. They issued an “outperform” rating on the stock. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 4th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.