Kinross Gold Co. (NYSE:KGC) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP boosted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 88.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 551,203 shares of the mining company’s stock after acquiring an additional 258,795 shares during the quarter. Bridgewater Associates LP’s holdings in Kinross Gold were worth $5,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new stake in Kinross Gold during the 2nd quarter worth about $40,000. Fifth Third Bancorp lifted its position in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after acquiring an additional 9,375 shares during the period. Corundum Trust Company INC acquired a new stake in Kinross Gold during the 3rd quarter worth about $94,000. OneDigital Investment Advisors LLC acquired a new stake in Kinross Gold during the 3rd quarter worth about $94,000. Finally, Fiera Capital Corp acquired a new position in shares of Kinross Gold in the 3rd quarter valued at about $99,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of Kinross Gold stock opened at $9.71 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82. The business has a 50-day moving average price of $9.93 and a 200 day moving average price of $9.00. The firm has a market cap of $11.93 billion, a PE ratio of 15.92, a P/E/G ratio of 0.44 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $0.12 EPS. Kinross Gold’s revenue for the quarter was up 29.9% compared to the same quarter last year. Sell-side analysts predict that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Ratings Changes

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

Kinross Gold Profile

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.