Kinross Gold Corporation (NYSE:KGC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Kinross Gold by 11.2% in the first quarter, now holding approximately $164.06 million in shares.
• Kinross Gold reported a strong quarterly earnings result, with $0.44 EPS exceeding expectations and revenue increasing by 41.7% year-over-year.
• The company recently announced a quarterly dividend of $0.03 per share, representing an annualized yield of 0.6%, with the dividend payout ratio currently at 9.68%.

Connor Clark & Lunn Investment Management Ltd. reduced its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 11.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,019,558 shares of the mining company's stock after selling 1,645,979 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.06% of Kinross Gold worth $164,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company's stock valued at $603,829,000 after buying an additional 561,563 shares during the period. Mackenzie Financial Corp grew its stake in shares of Kinross Gold by 21.2% during the 4th quarter. Mackenzie Financial Corp now owns 13,951,818 shares of the mining company's stock valued at $129,435,000 after buying an additional 2,438,445 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Kinross Gold by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,419,382 shares of the mining company's stock valued at $87,310,000 after buying an additional 160,755 shares during the period. Man Group plc grew its stake in shares of Kinross Gold by 174.2% during the 4th quarter. Man Group plc now owns 9,243,267 shares of the mining company's stock valued at $85,685,000 after buying an additional 5,871,904 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Kinross Gold by 34.1% during the 4th quarter. Geode Capital Management LLC now owns 7,682,835 shares of the mining company's stock valued at $74,128,000 after buying an additional 1,952,552 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KGC has been the subject of several research reports. Raymond James Financial raised shares of Kinross Gold to a "hold" rating and set a $15.00 price objective for the company in a research note on Monday, June 30th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Royal Bank Of Canada upped their price target on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and upped their price target for the stock from $14.00 to $18.00 in a research report on Thursday, June 26th. Finally, UBS Group assumed coverage on shares of Kinross Gold in a research report on Monday, August 4th. They set a "buy" rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Kinross Gold presently has a consensus rating of "Buy" and an average price target of $20.07.

Kinross Gold Stock Down 1.3%

Shares of Kinross Gold stock traded down $0.24 during trading on Wednesday, reaching $19.09. The company had a trading volume of 14,171,664 shares, compared to its average volume of 20,958,818. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. The firm's fifty day moving average is $16.01 and its 200-day moving average is $13.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $8.31 and a fifty-two week high of $19.45.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.14 EPS. On average, analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's dividend payout ratio is 9.68%.

Kinross Gold Company Profile

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.