Connor Clark & Lunn Investment Management Ltd. Buys 1,398,225 Shares of Kinross Gold Co. (NYSE:KGC)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,665,537 shares of the mining company’s stock after buying an additional 1,398,225 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.19% of Kinross Gold worth $136,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KGC. Van ECK Associates Corp grew its stake in Kinross Gold by 62.2% in the fourth quarter. Van ECK Associates Corp now owns 116,323,261 shares of the mining company’s stock valued at $1,078,330,000 after acquiring an additional 44,610,091 shares during the period. National Bank of Canada FI grew its stake in 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 purchasing an additional 70,376 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Kinross Gold by 7.3% during the third quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock worth $66,509,000 after buying an additional 480,568 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Kinross Gold by 13.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,846,119 shares of the mining company’s stock worth $63,495,000 after purchasing an additional 795,607 shares during the last quarter. Finally, Amundi raised its stake in shares of Kinross Gold by 9.3% in the fourth quarter. Amundi now owns 5,794,489 shares of the mining company’s stock valued at $53,715,000 after buying an additional 492,611 shares during the period. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Up 5.8 %

NYSE KGC opened at $11.18 on Wednesday. The company’s 50-day moving average price is $10.91 and its 200-day moving average price is $10.10. The stock has a market cap of $13.74 billion, a PE ratio of 14.51, a PEG ratio of 0.68 and a beta of 1.29. Kinross Gold Co. has a 12 month low of $5.36 and a 12 month high of $12.28. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, February 12th. The mining company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. Equities research analysts forecast that Kinross Gold Co. will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.12 annualized dividend and a yield of 1.07%. Kinross Gold’s dividend payout ratio (DPR) is 15.58%.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of research analyst reports. StockNews.com lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. CIBC raised their price target on Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus price target of $11.63.

About Kinross Gold

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.