Kinross Gold Co. (NYSE:KGC) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 7.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,094,622 shares of the mining company’s stock after purchasing an additional 480,568 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kinross Gold were worth $66,509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold in the 2nd quarter valued at about $40,000. Fifth Third Bancorp grew its stake in Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the period. Corundum Trust Company INC purchased a new position in shares of Kinross Gold in the 3rd quarter valued at $94,000. OneDigital Investment Advisors LLC purchased a new position in shares of Kinross Gold in the 3rd quarter valued at $94,000. Finally, Fiera Capital Corp purchased a new stake in Kinross Gold during the 3rd quarter worth $99,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Down 1.9 %

KGC stock opened at $9.79 on Thursday. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.45 and a beta of 1.22. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82. The firm has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $8.98. 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 for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. Research analysts predict that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analyst Ratings Changes

Several research analysts have commented on KGC shares. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Scotiabank raised 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. Finally, Jefferies Financial Group upped their price target 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Kinross Gold Company 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.