OLD National Bancorp IN Acquires 7,382 Shares of Kinross Gold Co. (NYSE:KGC)

OLD National Bancorp IN grew its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 48.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,497 shares of the mining company’s stock after acquiring an additional 7,382 shares during the period. OLD National Bancorp IN’s holdings in Kinross Gold were worth $284,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in shares of Kinross Gold by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock worth $1,078,330,000 after buying an additional 44,610,091 shares during the period. Norges Bank bought a new stake in shares of Kinross Gold during the 4th quarter worth $280,697,000. Man Group plc boosted its holdings in shares of Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company’s stock worth $85,685,000 after buying an additional 5,871,904 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Kinross Gold by 80.9% during the 4th quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock worth $116,898,000 after buying an additional 5,639,383 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Kinross Gold by 10.9% during the 4th quarter. Renaissance Technologies LLC now owns 32,862,230 shares of the mining company’s stock worth $304,633,000 after buying an additional 3,224,455 shares during the period. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KGC has been the subject of several recent analyst reports. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, April 18th. Royal Bank of Canada upped their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 4th. CIBC reissued an “outperform” rating on shares of Kinross Gold in a report on Tuesday, May 13th. Stifel Canada raised shares of Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, Raymond James increased their price target on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $15.40.

Kinross Gold Price Performance

NYSE:KGC opened at $14.82 on Wednesday. The company has a 50-day moving average of $14.35 and a 200-day moving average of $12.02. The company has a market capitalization of $18.18 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 0.68 and a beta of 0.63. Kinross Gold Co. has a 52 week low of $7.20 and a 52 week high of $15.96. 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 (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.08. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. As a group, equities research analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 29th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Thursday, May 29th. Kinross Gold’s payout ratio is 12.24%.

Kinross Gold Company 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.