Canoe Financial LP Takes Position in Kinross Gold Co. (NYSE:KGC)

Canoe Financial LP bought a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 121,111 shares of the mining company’s stock, valued at approximately $1,124,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $124,276,000 after acquiring an additional 642,007 shares during the period. Mackenzie Financial Corp grew its position in shares of Kinross Gold by 6.2% during the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after buying an additional 643,013 shares during the period. National Bank of Canada FI increased its stake in shares of Kinross Gold by 0.7% in the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock valued at $90,022,000 after acquiring an additional 70,376 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kinross Gold by 25.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock valued at $72,867,000 after acquiring an additional 1,777,076 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its stake in Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock worth $80,191,000 after acquiring an additional 1,871,939 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

KGC stock opened at $10.31 on Friday. The company has a market capitalization of $12.67 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82. The business has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $9.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61.

Kinross Gold (NYSE:KGC) (TSE:K) last announced 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 during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. Kinross Gold’s revenue was up 29.9% compared to the same quarter last year. Research analysts expect that Kinross Gold Co. will post 0.72 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s payout ratio is currently 19.67%.

Analyst Ratings Changes

Several research firms have weighed in on KGC. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. 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 note on Friday, October 4th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $11.13.

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.