CIBC Asset Management Inc Has $63.50 Million Stake in Kinross Gold Co. (NYSE:KGC)

CIBC Asset Management Inc boosted its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 13.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,846,119 shares of the mining company’s stock after buying an additional 795,607 shares during the period. CIBC Asset Management Inc’s holdings in Kinross Gold were worth $63,495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of KGC. Van ECK Associates Corp raised its position 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 worth $1,078,330,000 after purchasing an additional 44,610,091 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Kinross Gold by 5.1% in 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 buying an additional 642,007 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Kinross Gold by 0.7% during the 3rd quarter. National Bank of Canada FI now owns 9,612,585 shares of the mining company’s stock worth $90,022,000 after buying an additional 70,376 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Kinross Gold by 7.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,094,622 shares of the mining company’s stock valued at $66,509,000 after buying an additional 480,568 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Kinross Gold by 16.9% in the third quarter. Geode Capital Management LLC now owns 5,730,283 shares of the mining company’s stock valued at $54,803,000 after acquiring an additional 828,456 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC opened at $11.27 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.63 and a debt-to-equity ratio of 0.18. The stock has a market cap of $13.85 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. The stock’s 50-day moving average price is $10.39 and its two-hundred day moving average price is $9.84. Kinross Gold Co. has a 1 year low of $4.75 and a 1 year high of $12.28.

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 for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. On average, equities analysts predict that Kinross Gold Co. will post 0.73 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.07%. The ex-dividend date is Wednesday, March 5th. Kinross Gold’s payout ratio is 19.67%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 9th. CIBC upped their price objective on shares of Kinross Gold from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Kinross Gold has an average rating of “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.