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

Wells Fargo & Company MN boosted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 529,328 shares of the mining company’s stock after purchasing an additional 29,677 shares during the period. Wells Fargo & Company MN’s holdings in Kinross Gold were worth $4,907,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kinross Gold by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 47,365,206 shares of the mining company’s stock valued at $439,881,000 after buying an additional 763,248 shares during the period. Norges Bank purchased a new position in shares of Kinross Gold during the 4th quarter valued at $280,697,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Kinross Gold by 10.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock worth $136,028,000 after acquiring an additional 1,398,225 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Kinross Gold by 15.4% in the 4th quarter. JPMorgan Chase & Co. now owns 13,438,786 shares of the mining company’s stock worth $124,578,000 after acquiring an additional 1,793,065 shares during the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on KGC shares. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a report on Monday, April 14th. BMO Capital Markets initiated coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. National Bank Financial upgraded Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. Finally, 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 research note on Friday, April 4th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold presently has a consensus rating of “Buy” and a consensus target price of $13.30.

Kinross Gold Trading Down 1.6 %

Kinross Gold stock opened at $14.80 on Monday. 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 $6.34 and a fifty-two week high of $15.34. The stock has a market cap of $18.21 billion, a P/E ratio of 19.22, a PEG ratio of 0.68 and a beta of 1.12. The firm’s fifty day moving average price is $12.11 and its 200-day moving average price is $10.83.

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

Kinross Gold Announces Dividend

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

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.