Connor Clark & Lunn Investment Management Ltd. Buys 642,007 Shares of Kinross Gold Co. (NYSE:KGC)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,267,312 shares of the mining company’s stock after buying an additional 642,007 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.08% of Kinross Gold worth $124,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KGC. Atlas Capital Advisors LLC purchased a new position in Kinross Gold during the second quarter valued at approximately $40,000. Bright Futures Wealth Management LLC. bought a new position in Kinross Gold in the 1st quarter worth $70,000. Fifth Third Bancorp boosted its holdings in Kinross Gold by 3,524.4% in the 2nd 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. Blue Trust Inc. increased its stake in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares in the last quarter. Finally, Corundum Trust Company INC bought a new stake in Kinross Gold during the third quarter valued at about $94,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on KGC shares. 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 research report on Friday, October 4th. Scotiabank lifted their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus price target of $10.00.

Kinross Gold Price Performance

Kinross Gold stock opened at $10.00 on Wednesday. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm’s fifty day moving average is $9.86 and its 200 day moving average is $8.88. The company has a market cap of $12.29 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.48 and a beta of 1.22.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS 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 firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.12 EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Sell-side analysts forecast that Kinross Gold Co. will post 0.69 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

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.