JPMorgan Chase & Co. Has $124.58 Million Stake in Kinross Gold Co. (NYSE:KGC)

JPMorgan Chase & Co. lifted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 15.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,438,786 shares of the mining company’s stock after buying an additional 1,793,065 shares during the period. JPMorgan Chase & Co. owned about 1.09% of Kinross Gold worth $124,578,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KGC. Van ECK Associates Corp boosted its position in 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 acquiring an additional 44,610,091 shares during the last quarter. First Eagle Investment Management LLC grew its position in Kinross Gold by 80.9% in the fourth quarter. First Eagle Investment Management LLC now owns 12,610,383 shares of the mining company’s stock valued at $116,898,000 after purchasing an additional 5,639,383 shares in the last quarter. Hillsdale Investment Management Inc. lifted its position in Kinross Gold by 174.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,249,033 shares of the mining company’s stock worth $30,141,000 after buying an additional 2,065,693 shares in the last quarter. Intact Investment Management Inc. boosted its stake in shares of Kinross Gold by 4,059.9% during the 4th quarter. Intact Investment Management Inc. now owns 1,510,040 shares of the mining company’s stock worth $14,022,000 after buying an additional 1,473,740 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Kinross Gold by 10.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,665,537 shares of the mining company’s stock valued at $136,028,000 after acquiring an additional 1,398,225 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Down 0.1 %

KGC opened at $12.59 on Wednesday. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $11.49 and its 200 day simple moving average is $10.44. Kinross Gold Co. has a 1-year low of $6.16 and a 1-year high of $12.90. The stock has a market cap of $15.49 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.68 and a beta of 1.29.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. As a group, research analysts expect that Kinross Gold Co. will post 0.81 earnings per share for the current 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. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 0.95%. Kinross Gold’s payout ratio is currently 15.58%.

Analysts Set New Price Targets

Several research firms recently issued reports on KGC. Stifel Canada upgraded Kinross Gold to a “strong-buy” rating in a report on Wednesday, March 19th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 22nd. CIBC raised their target price on shares of Kinross Gold from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $11.63.

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.