CIBC Asset Management Inc Buys 795,607 Shares of Kinross Gold Co. (NYSE:KGC)

CIBC Asset Management Inc grew its stake in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,846,119 shares of the mining company's stock after acquiring an additional 795,607 shares during the period. CIBC Asset Management Inc owned 0.56% of Kinross Gold worth $63,495,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new stake in shares of Kinross Gold during the fourth quarter worth $250,000. BXM Wealth LLC acquired a new position in Kinross Gold in the fourth quarter valued at $179,000. Vontobel Holding Ltd. lifted its holdings in Kinross Gold by 1.1% in the fourth quarter. Vontobel Holding Ltd. now owns 1,192,700 shares of the mining company's stock valued at $11,063,000 after buying an additional 12,700 shares during the period. Van ECK Associates Corp raised its holdings in shares of Kinross Gold by 62.2% during the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company's stock valued at $1,078,330,000 after purchasing an additional 44,610,091 shares during the period. Finally, Louisbourg Investments Inc. raised its holdings in shares of Kinross Gold by 1.0% during the fourth quarter. Louisbourg Investments Inc. now owns 282,500 shares of the mining company's stock valued at $2,622,000 after purchasing an additional 2,700 shares during the period. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 9th. CIBC raised their price target on Kinross Gold from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Kinross Gold presently has an average rating of "Buy" and an average price target of $11.63.

Kinross Gold Stock Up 1.7 %

Shares of KGC traded up $0.20 on Thursday, reaching $11.54. The stock had a trading volume of 22,078,251 shares, compared to its average volume of 22,597,623. The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $9.89. The firm has a market capitalization of $14.18 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.65 and a beta of 1.24. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $12.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.83 and a current ratio of 2.01.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data 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 net margin of 18.43% and a return on equity of 12.65%. Sell-side analysts predict that Kinross Gold Co. will post 0.83 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, March 5th. Kinross Gold's payout ratio is 15.58%.

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.