BNP PARIBAS ASSET MANAGEMENT Holding S.A. Takes Position in Kinross Gold Co. (NYSE:KGC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,516,399 shares of the mining company’s stock, valued at approximately $14,193,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.12% of Kinross Gold as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KGC. Ontario Teachers Pension Plan Board raised its stake in shares of Kinross Gold by 2.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 161,400 shares of the mining company’s stock valued at $1,512,000 after purchasing an additional 4,163 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Kinross Gold by 5.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after buying an additional 642,007 shares during the period. PCJ Investment Counsel Ltd. lifted its holdings in Kinross Gold by 96.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 340,220 shares of the mining company’s stock worth $3,185,000 after buying an additional 166,830 shares in the last quarter. Caprock Group LLC lifted its holdings in Kinross Gold by 16.5% in the 3rd quarter. Caprock Group LLC now owns 96,824 shares of the mining company’s stock worth $906,000 after buying an additional 13,695 shares in the last quarter. Finally, Swiss National Bank boosted its position in Kinross Gold by 0.8% in the 3rd quarter. Swiss National Bank now owns 3,717,118 shares of the mining company’s stock valued at $34,878,000 after buying an additional 29,400 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of analyst reports. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Scotiabank upped their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Kinross Gold Price Performance

Shares of NYSE KGC opened at $10.22 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 0.49 and a beta of 1.22. Kinross Gold Co. has a twelve month low of $4.75 and a twelve month high of $10.82. The business has a 50 day simple moving average of $9.89 and a 200-day simple moving average of $8.92.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, equities research analysts expect that Kinross Gold Co. will post 0.69 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

Kinross Gold 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.