Plato Investment Management Ltd Invests $2.70 Million in Kinross Gold Co. (NYSE:KGC)

Plato Investment Management Ltd acquired a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 288,103 shares of the mining company’s stock, valued at approximately $2,699,000.

Several other institutional investors have also recently added to or reduced their stakes in KGC. Vanguard Group Inc. lifted its stake in Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock worth $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock valued at $43,218,000 after buying an additional 194,700 shares during the period. International Assets Investment Management LLC acquired a new position in Kinross Gold during the 3rd quarter worth about $780,000. Jupiter Asset Management Ltd. acquired a new position in Kinross Gold during the 1st quarter worth about $3,199,000. Finally, Raymond James & Associates boosted its holdings in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock valued at $3,186,000 after acquiring an additional 69,520 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on KGC. 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 note on Friday, October 4th. Scotiabank increased their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.00.

Kinross Gold Stock Down 2.2 %

KGC stock opened at $9.30 on Thursday. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company’s 50 day moving average price is $9.77 and its 200 day moving average price is $8.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.47 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. On average, equities research analysts anticipate that Kinross Gold Co. will post 0.69 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

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.