Wakefield Asset Management LLLP Buys New Stake in Kinross Gold Co. (NYSE:KGC)

Wakefield Asset Management LLLP purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 369,748 shares of the mining company’s stock, valued at approximately $3,428,000.

Several other hedge funds and other institutional investors have also modified their holdings of KGC. Private Advisor Group LLC lifted its stake in 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 acquiring an additional 981 shares in the last quarter. Atomi Financial Group Inc. increased its stake in Kinross Gold by 4.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,652 shares of the mining company’s stock worth $219,000 after purchasing an additional 1,106 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of 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 purchasing an additional 1,235 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Kinross Gold by 9.6% in the fourth quarter. Blue Trust Inc. now owns 23,411 shares of the mining company’s stock valued at $219,000 after purchasing an additional 2,060 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Kinross Gold by 9.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,708 shares of the mining company’s stock worth $241,000 after buying an additional 2,200 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KGC shares. StockNews.com cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. CIBC lifted their target price on Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.63.

Kinross Gold Stock Down 4.3 %

Kinross Gold stock opened at $10.61 on Friday. The stock has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $9.98. The company has a market capitalization of $13.03 billion, a P/E ratio of 13.77, a PEG ratio of 0.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $12.28.

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

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.13%. Kinross Gold’s payout ratio is 15.58%.

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.