TD Waterhouse Canada Inc. Sells 55,488 Shares of Kinross Gold Corporation $KGC

TD Waterhouse Canada Inc. cut its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.7% during the 2nd quarter, Holdings Channel reports. The fund owned 1,136,982 shares of the mining company’s stock after selling 55,488 shares during the period. TD Waterhouse Canada Inc.’s holdings in Kinross Gold were worth $17,632,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its stake in shares of Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Kinross Gold by 3.0% during the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock valued at $438,000 after purchasing an additional 1,013 shares during the period. US Bancorp DE increased its position in Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock worth $865,000 after buying an additional 1,103 shares in the last quarter. Caliber Wealth Management LLC KS raised its stake in shares of Kinross Gold by 6.7% in the second quarter. Caliber Wealth Management LLC KS now owns 19,950 shares of the mining company’s stock worth $312,000 after buying an additional 1,250 shares during the period. Finally, Yousif Capital Management LLC lifted its position in shares of Kinross Gold by 6.9% during the 2nd quarter. Yousif Capital Management LLC now owns 19,985 shares of the mining company’s stock valued at $312,000 after buying an additional 1,290 shares in the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $25.56 on Thursday. The company has a market cap of $30.86 billion, a P/E ratio of 20.61, a P/E/G ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The firm’s fifty day moving average is $24.36 and its two-hundred day moving average is $19.37.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue was up 25.8% on a year-over-year basis. As a group, analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is presently 9.79%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KGC. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. CIBC upped their target price on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Finally, UBS Group increased their price target on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $27.56.

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.