Intech Investment Management LLC Buys New Shares in Kinross Gold Co. (NYSE:KGC)

Intech Investment Management LLC bought a new stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 264,433 shares of the mining company's stock, valued at approximately $2,480,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Kinross Gold by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company's stock worth $278,486,000 after acquiring an additional 497,531 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company's stock worth $43,218,000 after acquiring an additional 194,700 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Kinross Gold in the 3rd quarter worth approximately $780,000. Raymond James & Associates increased its position in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company's stock valued at $3,186,000 after buying an additional 69,520 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position 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 valued at $124,276,000 after buying an additional 642,007 shares in the last quarter. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KGC shares. Jefferies Financial Group raised their price objective on Kinross Gold from $9.00 to $10.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Scotiabank raised their price objective 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, StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Kinross Gold presently has an average rating of "Moderate Buy" and an average target price of $10.00.

Kinross Gold Stock Down 3.8 %

KGC traded down $0.39 during trading on Monday, hitting $9.83. 24,279,013 shares of the company's stock traded hands, compared to its average volume of 15,540,237. The company's 50 day simple moving average is $9.89 and its two-hundred day simple moving average is $8.96. 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 stock has a market capitalization of $12.08 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.49 and a beta of 1.22.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company's revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. Analysts predict that Kinross Gold Co. will post 0.7 earnings per share 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 paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.22%. Kinross Gold's dividend payout ratio (DPR) is currently 19.67%.

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.