The Manufacturers Life Insurance Company Grows Stock Holdings in Kinross Gold Co. (NYSE:KGC)

The Manufacturers Life Insurance Company lifted its position in Kinross Gold Co. (NYSE:KGCFree Report) (TSE:K) by 53.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,939,895 shares of the mining company’s stock after buying an additional 2,076,920 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.48% of Kinross Gold worth $36,010,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. 180 Wealth Advisors LLC lifted its position in shares of Kinross Gold by 6.0% during the fourth quarter. 180 Wealth Advisors LLC now owns 38,057 shares of the mining company’s stock worth $225,000 after purchasing an additional 2,157 shares in the last quarter. Metis Global Partners LLC boosted its position in Kinross Gold by 7.6% in the 4th quarter. Metis Global Partners LLC now owns 42,784 shares of the mining company’s stock valued at $259,000 after buying an additional 3,018 shares during the period. Signaturefd LLC grew its stake in shares of Kinross Gold by 7.7% in the fourth quarter. Signaturefd LLC now owns 42,585 shares of the mining company’s stock worth $258,000 after acquiring an additional 3,048 shares in the last quarter. Pearl River Capital LLC grew its stake in shares of Kinross Gold by 17.9% in the third quarter. Pearl River Capital LLC now owns 21,100 shares of the mining company’s stock worth $96,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its position in shares of Kinross Gold by 4.5% during the fourth quarter. Beacon Pointe Advisors LLC now owns 81,666 shares of the mining company’s stock worth $494,000 after acquiring an additional 3,500 shares during the period. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 1.5 %

NYSE KGC opened at $8.00 on Friday. The firm’s fifty day moving average price is $7.11 and its 200 day moving average price is $6.12. Kinross Gold Co. has a 12 month low of $4.32 and a 12 month high of $8.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.15 and a quick ratio of 0.45. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 0.48 and a beta of 1.23.

Kinross Gold (NYSE:KGCGet Free Report) (TSE:K) last issued its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the company posted $0.07 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Kinross Gold Co. will post 0.51 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, May 30th. Kinross Gold’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

Several research firms recently commented on KGC. Cormark raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. TheStreet downgraded Kinross Gold from a “b” rating to a “c+” rating in a research report on Friday, February 16th. BMO Capital Markets raised their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a report on Tuesday, May 21st. National Bank Financial reiterated an “outperform overweight” rating on shares of Kinross Gold in a report on Monday, April 8th. Finally, Jefferies Financial Group raised their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.59.

Get Our Latest Stock Analysis on KGC

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.

Further Reading

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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