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

The Manufacturers Life Insurance Company lowered its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,258,527 shares of the mining company’s stock after selling 836,095 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.51% of Kinross Gold worth $58,202,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in Kinross Gold by 109.3% during the fourth quarter. Jones Financial Companies Lllp now owns 2,704 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,412 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company’s stock worth $40,000 after purchasing an additional 1,002 shares during the period. SBI Securities Co. Ltd. purchased a new position in Kinross Gold during the fourth quarter worth approximately $42,000. Global Retirement Partners LLC raised its stake in Kinross Gold by 747.0% during the fourth quarter. Global Retirement Partners LLC now owns 5,429 shares of the mining company’s stock worth $50,000 after purchasing an additional 4,788 shares during the period. Finally, Avior Wealth Management LLC raised its stake in Kinross Gold by 246.3% during the fourth quarter. Avior Wealth Management LLC now owns 7,227 shares of the mining company’s stock worth $67,000 after purchasing an additional 5,140 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. CIBC increased their price target on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Raymond James raised their target price on shares of Kinross Gold from $12.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 4th. National Bank Financial raised shares of Kinross Gold to a “strong-buy” rating in a research note on Friday, March 21st. National Bankshares reissued an “outperform” rating on shares of Kinross Gold in a research note on Wednesday, April 23rd. Finally, StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 18th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $13.30.

Kinross Gold Stock Performance

Kinross Gold stock opened at $14.58 on Wednesday. Kinross Gold Co. has a 12-month low of $6.42 and a 12-month high of $15.46. The company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 0.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.01 and a quick ratio of 0.83. The firm’s fifty day moving average price is $12.56 and its 200 day moving average price is $11.07.

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

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Wednesday, March 5th. Kinross Gold’s dividend payout ratio is currently 15.58%.

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.