Kinross Gold Co. (NYSE:KGC) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 975.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 555,458 shares of the mining company’s stock after purchasing an additional 503,799 shares during the quarter. Wellington Management Group LLP’s holdings in Kinross Gold were worth $2,543,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. S.A. Mason LLC acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at about $27,000. CWM LLC grew its position in shares of Kinross Gold by 353.2% during the 3rd quarter. CWM LLC now owns 7,378 shares of the mining company’s stock valued at $34,000 after buying an additional 5,750 shares during the last quarter. Natixis bought a new stake in shares of Kinross Gold during the 4th quarter valued at about $35,000. Sei Investments Co. bought a new stake in shares of Kinross Gold during the 3rd quarter valued at about $47,000. Finally, United Capital Financial Advisers LLC bought a new stake in shares of Kinross Gold during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 3.3 %

Kinross Gold stock opened at $5.89 on Thursday. The firm has a 50 day simple moving average of $5.36 and a 200-day simple moving average of $5.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.63 and a quick ratio of 0.95. The stock has a market capitalization of $7.23 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 1.19 and a beta of 1.13. Kinross Gold Co. has a 12-month low of $4.32 and a 12-month high of $6.34.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share. As a group, equities research analysts expect that Kinross Gold Co. will post 0.33 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on KGC shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Kinross Gold in a research report on Wednesday, January 3rd. CIBC boosted their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Jefferies Financial Group started coverage on shares of Kinross Gold in a research report on Thursday, February 29th. They set a “hold” rating and a $5.00 price objective for the company. StockNews.com downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Finally, TheStreet cut shares of Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold currently has a consensus rating of “Hold” and an average target price of $6.05.

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.