Teachers Retirement System of The State of Kentucky Makes New Investment in Kinross Gold Co. (NYSE:KGC)

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 369,500 shares of the mining company’s stock, valued at approximately $3,459,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Cetera Advisors LLC grew its holdings in shares of Kinross Gold by 10.1% during the first quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after buying an additional 1,828 shares in the last quarter. Blue Trust Inc. lifted its stake in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after purchasing an additional 6,011 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Kinross Gold by 26.3% during the 2nd quarter. Raymond James & Associates now owns 270,875 shares of the mining company’s stock worth $2,254,000 after purchasing an additional 56,324 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares in the last quarter. Finally, U S Global Investors Inc. lifted its position in Kinross Gold by 45.0% during the second quarter. U S Global Investors Inc. now owns 145,000 shares of the mining company’s stock worth $1,206,000 after buying an additional 45,000 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

NYSE KGC opened at $9.77 on Friday. The stock has a fifty day simple moving average of $10.00 and a 200-day simple moving average of $9.14. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a market cap of $12.01 billion, a PE ratio of 16.02, a P/E/G ratio of 0.44 and a beta of 1.21. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.23%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One equities research 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 an average rating of “Buy” and a consensus price target 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.