Kinross Gold Corporation $KGC Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. trimmed its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 20.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,349,802 shares of the mining company’s stock after selling 354,410 shares during the period. Kinross Gold makes up about 1.1% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 19th largest holding. Hillsdale Investment Management Inc. owned 0.11% of Kinross Gold worth $38,087,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KGC. Korea Investment CORP increased its holdings in shares of Kinross Gold by 372.4% in the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company’s stock valued at $81,793,000 after buying an additional 2,597,455 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Kinross Gold by 3.2% in the third quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock valued at $1,259,280,000 after buying an additional 1,553,594 shares in the last quarter. FORA Capital LLC bought a new position in shares of Kinross Gold in the third quarter valued at $2,060,000. Regal Partners Ltd increased its holdings in shares of Kinross Gold by 79.9% in the third quarter. Regal Partners Ltd now owns 977,243 shares of the mining company’s stock valued at $24,284,000 after buying an additional 433,953 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Kinross Gold by 30.5% in the third quarter. TD Asset Management Inc now owns 5,617,329 shares of the mining company’s stock valued at $139,444,000 after buying an additional 1,311,379 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $30.23 on Friday. The company’s fifty day moving average is $30.63 and its two-hundred day moving average is $30.81. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $14.49 and a 12-month high of $39.11. The company has a market cap of $36.05 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.05 and a beta of 0.73.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.03. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $0.30 EPS. The company’s revenue was up 60.8% on a year-over-year basis. Equities analysts expect that Kinross Gold Corporation will post 2.92 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, May 21st. Kinross Gold’s payout ratio is 6.78%.

Analysts Set New Price Targets

Several research firms have issued reports on KGC. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a report on Wednesday, February 4th. Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. UBS Group dropped their price target on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, May 1st. Finally, Weiss Ratings cut Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.81.

Kinross Gold Company Profile

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.