Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,267,312 shares of the mining company's stock after buying an additional 642,007 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.08% of Kinross Gold worth $124,276,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock worth $278,486,000 after purchasing an additional 497,531 shares during the period. Gabelli Funds LLC raised its stake in Kinross Gold by 3.9% during the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company's stock valued at $43,218,000 after buying an additional 194,700 shares during the last quarter. International Assets Investment Management LLC bought a new position in Kinross Gold during the third quarter valued at approximately $780,000. Raymond James & Associates increased its stake in Kinross Gold by 25.7% in the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock worth $3,186,000 after buying an additional 69,520 shares during the period. Finally, Plato Investment Management Ltd purchased a new position in shares of Kinross Gold in the 3rd quarter valued at $2,699,000. 63.69% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a research report on Friday, October 4th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, November 9th. Finally, Scotiabank lifted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a "sector outperform" rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.
Read Our Latest Report on Kinross Gold
Kinross Gold Stock Down 0.3 %
NYSE:KGC traded down $0.03 on Wednesday, reaching $9.97. 12,866,316 shares of the stock traded hands, compared to its average volume of 15,499,951. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.48 and a beta of 1.22. The company's fifty day simple moving average is $9.86 and its 200 day simple moving average is $8.88.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company's revenue for the quarter was up 29.9% compared to the same quarter last year. Equities analysts predict that Kinross Gold Co. will post 0.69 EPS for the current fiscal year.
Kinross Gold Announces Dividend
The company 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 $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, November 27th. Kinross Gold's dividend payout ratio is currently 19.67%.
About Kinross Gold
(
Free Report)
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.
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