CANADA LIFE ASSURANCE Co Purchases 748,277 Shares of Kinross Gold Co. (NYSE:KGC)

CANADA LIFE ASSURANCE Co increased its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 84.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,635,418 shares of the mining company’s stock after acquiring an additional 748,277 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Kinross Gold were worth $10,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KGC. Headlands Technologies LLC acquired a new stake in Kinross Gold during the fourth quarter worth $44,000. Advisor Resource Council acquired a new stake in shares of Kinross Gold in the 1st quarter valued at $60,000. Sivia Capital Partners LLC acquired a new stake in shares of Kinross Gold in the 4th quarter valued at $63,000. UniSuper Management Pty Ltd boosted its stake in shares of Kinross Gold by 95.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 17,400 shares of the mining company’s stock valued at $107,000 after purchasing an additional 8,500 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of Kinross Gold in the 4th quarter valued at $108,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 3.6 %

NYSE:KGC opened at $8.54 on Friday. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $9.41. The company has a quick ratio of 0.45, a current ratio of 1.15 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $6.69. The company has a market cap of $10.49 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a return on equity of 9.34% and a net margin of 9.86%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. As a group, analysts expect that Kinross Gold Co. will post 0.57 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, May 30th. Kinross Gold’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on KGC shares. StockNews.com upgraded shares of Kinross Gold from a “hold” rating to a “buy” rating in a research note on Tuesday, April 2nd. National Bank Financial restated an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Cormark upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. BMO Capital Markets upped their price target on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group upped their price target on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and an average price target of $8.57.

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.