Wells Fargo & Company MN Acquires 29,677 Shares of Kinross Gold Co. (NYSE:KGC)

Wells Fargo & Company MN boosted its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 529,328 shares of the mining company’s stock after buying an additional 29,677 shares during the quarter. Wells Fargo & Company MN’s holdings in Kinross Gold were worth $4,907,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGC. MML Investors Services LLC bought a new stake in Kinross Gold during the third quarter valued at $201,000. Geode Capital Management LLC boosted its holdings in shares of Kinross Gold by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock worth $54,803,000 after buying an additional 828,456 shares in the last quarter. Te Ahumairangi Investment Management Ltd grew its position in shares of Kinross Gold by 6.4% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 298,800 shares of the mining company’s stock worth $2,786,000 after buying an additional 18,000 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Kinross Gold in the 3rd quarter valued at $248,000. Finally, Tidal Investments LLC lifted its position in shares of Kinross Gold by 354.9% during the 3rd quarter. Tidal Investments LLC now owns 48,068 shares of the mining company’s stock valued at $450,000 after acquiring an additional 37,502 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $14.80 on Monday. Kinross Gold Co. has a 52 week low of $6.34 and a 52 week high of $15.34. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $12.11 and a 200-day moving average price of $10.83. The company has a market cap of $18.21 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12.

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

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.81%. The ex-dividend date was Wednesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 15.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday. Stifel Canada raised Kinross Gold to a “strong-buy” rating in a research report on Wednesday, March 19th. CIBC increased their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Raymond James boosted their price objective on Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Finally, BMO Capital Markets assumed coverage on Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Kinross Gold has an average 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.