TD Waterhouse Canada Inc. Reduces Stock Holdings in Kinross Gold Corporation $KGC

TD Waterhouse Canada Inc. reduced its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,208,270 shares of the mining company’s stock after selling 50,627 shares during the period. TD Waterhouse Canada Inc. owned about 0.10% of Kinross Gold worth $34,016,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the 4th quarter valued at $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold in the 4th quarter valued at $26,000. Caitlin John LLC purchased a new stake in shares of Kinross Gold in the 3rd quarter valued at $26,000. Virtus Advisers LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in shares of Kinross Gold in the 3rd quarter valued at $29,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KGC shares. Scotiabank boosted their target price on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. UBS Group decreased their target price on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, March 27th. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $36.00 to $45.00 in a research note on Thursday, March 12th. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Price Performance

Kinross Gold stock opened at $34.94 on Monday. Kinross Gold Corporation has a 52-week low of $13.28 and a 52-week high of $39.11. The firm has a market capitalization of $41.72 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.70 and a beta of 0.82. The company has a fifty day simple moving average of $32.49 and a 200-day simple moving average of $29.69. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The company’s revenue for the quarter was up 42.9% compared to the same quarter last year. On average, equities analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s payout ratio is currently 8.16%.

About Kinross Gold

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.