The Manufacturers Life Insurance Company Has $66.51 Million Stake in Kinross Gold Co. (NYSE:KGC)

The Manufacturers Life Insurance Company boosted its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,094,622 shares of the mining company's stock after purchasing an additional 480,568 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.58% of Kinross Gold worth $66,509,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gabelli Funds LLC raised its holdings in Kinross Gold by 3.9% in the 2nd quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company's stock valued at $43,218,000 after acquiring an additional 194,700 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kinross Gold in the 3rd quarter worth approximately $780,000. Raymond James & Associates raised its holdings in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kinross Gold by 5.1% in 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 in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of Kinross Gold in the 3rd quarter worth approximately $2,699,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Scotiabank increased their target price on Kinross Gold from $9.50 to $11.00 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. StockNews.com raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 9th. Finally, Jefferies Financial Group increased their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Kinross Gold currently has an average rating of "Moderate Buy" and an average price target of $10.00.

Kinross Gold Trading Down 1.5 %

KGC traded down $0.15 during mid-day trading on Thursday, reaching $9.80. The stock had a trading volume of 13,257,464 shares, compared to its average volume of 18,785,224. The stock has a market capitalization of $12.04 billion, a P/E ratio of 16.07, a P/E/G ratio of 0.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. The firm's fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $8.99. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results 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. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the company earned $0.12 EPS. The firm's revenue was up 29.9% on a year-over-year basis. On average, equities analysts predict that Kinross Gold Co. will post 0.7 EPS 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 $0.03 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. Kinross Gold's dividend payout ratio 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.