Valley National Advisers Inc. Acquires New Shares in Kinross Gold Co. (NYSE:KGC)

Valley National Advisers Inc. purchased a new position in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,000 shares of the mining company’s stock, valued at approximately $92,000.

Other hedge funds have also added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock valued at $67,000 after buying an additional 5,140 shares during the last quarter. Corundum Trust Company INC purchased a new stake in shares of Kinross Gold in the third quarter worth about $94,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Kinross Gold during the 3rd quarter worth approximately $94,000. EP Wealth Advisors LLC bought a new position in Kinross Gold during the third quarter valued at $95,000. Finally, Fiera Capital Corp purchased a new position in Kinross Gold in the third quarter worth about $99,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Kinross Gold stock opened at $11.29 on Monday. The stock has a market cap of $13.87 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 0.61 and a beta of 1.23. The firm has a 50-day moving average of $10.01 and a two-hundred day moving average of $9.63. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $11.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 earnings per share. On average, research analysts forecast that Kinross Gold Co. will post 0.72 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.06%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.13.

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.