Franklin Resources Inc. Purchases 6,634 Shares of Kinross Gold Co. (NYSE:KGC)

Franklin Resources Inc. increased its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,080,957 shares of the mining company’s stock after acquiring an additional 6,634 shares during the period. Franklin Resources Inc. owned about 0.09% of Kinross Gold worth $10,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capstone Investment Advisors LLC bought a new stake in Kinross Gold during the 3rd quarter worth approximately $774,000. Gabelli Funds LLC grew its stake in shares of Kinross Gold by 3.9% in the second quarter. Gabelli Funds LLC now owns 5,194,500 shares of the mining company’s stock worth $43,218,000 after purchasing an additional 194,700 shares during the last quarter. International Assets Investment Management LLC bought a new position in Kinross Gold during the 3rd quarter worth $780,000. Raymond James & Associates lifted its holdings in Kinross Gold by 25.7% during the 3rd quarter. Raymond James & Associates now owns 340,395 shares of the mining company’s stock worth $3,186,000 after buying an additional 69,520 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position 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 valued at $124,276,000 after buying an additional 642,007 shares during the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Price Performance

Kinross Gold stock opened at $9.25 on Friday. The stock’s 50 day moving average price is $9.97 and its two-hundred day moving average price is $9.19. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.63 and a current ratio of 1.61. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.82.

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

Kinross Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 28th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, November 27th. Kinross Gold’s dividend payout ratio (DPR) is currently 19.67%.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $11.13.

Kinross Gold 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.