The Manufacturers Life Insurance Company Has $54.99 Million Holdings in Kinross Gold Co. (NYSE:KGC)

The Manufacturers Life Insurance Company raised its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,614,054 shares of the mining company’s stock after purchasing an additional 101,717 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kinross Gold were worth $54,986,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new position in shares of Kinross Gold during the second quarter valued at approximately $40,000. Advisor Resource Council purchased a new position in Kinross Gold during the 1st quarter worth $60,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the 4th quarter worth $63,000. Bright Futures Wealth Management LLC. purchased a new stake in shares of Kinross Gold in the first quarter valued at about $70,000. Finally, Fifth Third Bancorp lifted its position in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Down 3.5 %

Shares of NYSE KGC opened at $9.46 on Friday. The business’s fifty day moving average price is $9.03 and its 200-day moving average price is $7.88. Kinross Gold Co. has a one year low of $4.32 and a one year high of $10.10. The stock has a market capitalization of $11.63 billion, a PE ratio of 26.28, a P/E/G ratio of 0.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate that Kinross Gold Co. will post 0.6 EPS for the current year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.27%. Kinross Gold’s dividend payout ratio is 33.33%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. CIBC increased their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank increased their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group boosted their price objective on Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Finally, StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold presently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

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.