Franklin Resources Inc. Has $10.80 Million Stock Holdings in Kinross Gold Co. (NYSE:KGC)

Franklin Resources Inc. grew its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,080,957 shares of the mining company’s stock after buying an additional 6,634 shares during the quarter. Franklin Resources Inc.’s holdings in Kinross Gold were worth $10,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in KGC. Capstone Investment Advisors LLC bought a new position in Kinross Gold in the 3rd quarter valued at about $774,000. Gabelli Funds LLC lifted its holdings 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 valued at $43,218,000 after purchasing an additional 194,700 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Kinross Gold during the third quarter valued at approximately $780,000. Raymond James & Associates grew its holdings in Kinross Gold by 25.7% during the third 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in 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. 63.69% of the stock is owned by institutional investors.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $9.25 on Friday. The company has a market capitalization of $11.37 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The company’s 50-day moving average is $9.97 and its 200 day moving average is $9.19. 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 fifty-two week low of $4.75 and a fifty-two week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share for the quarter, beating 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $0.12 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities research analysts forecast that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th were paid a $0.03 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.30%. Kinross Gold’s payout ratio is presently 19.67%.

Analyst Upgrades and Downgrades

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

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.