Intech Investment Management LLC Invests $2.48 Million in Kinross Gold Co. (NYSE:KGC)

Intech Investment Management LLC acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 264,433 shares of the mining company’s stock, valued at approximately $2,480,000.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at approximately $14,193,000. Ontario Teachers Pension Plan Board raised its holdings in Kinross Gold by 2.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 161,400 shares of the mining company’s stock worth $1,512,000 after purchasing an additional 4,163 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after purchasing an additional 642,007 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its position in Kinross Gold by 96.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 340,220 shares of the mining company’s stock worth $3,185,000 after purchasing an additional 166,830 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in Kinross Gold by 16.5% in the third quarter. Caprock Group LLC now owns 96,824 shares of the mining company’s stock valued at $906,000 after purchasing an additional 13,695 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $10.22 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.61 and a quick ratio of 0.63. The company has a market cap of $12.56 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. The company has a 50-day simple moving average of $9.89 and a 200-day simple moving average of $8.95. Kinross Gold Co. has a 12 month low of $4.75 and a 12 month high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Kinross Gold had a return on equity of 11.49% and a net margin of 15.23%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm posted $0.12 EPS. Kinross Gold’s revenue was up 29.9% on a year-over-year basis. On average, equities analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 28th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.17%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank lifted their target price on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group increased their price target on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

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.