Harvest Portfolios Group Inc. Has $923,000 Stake in Kinross Gold Corporation $KGC

Harvest Portfolios Group Inc. lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,064 shares of the mining company’s stock after purchasing an additional 8,519 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Kinross Gold were worth $923,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of KGC. Vanguard Group Inc. increased its stake in Kinross Gold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 47,926,769 shares of the mining company’s stock worth $603,829,000 after purchasing an additional 561,563 shares in the last quarter. Boston Partners boosted its holdings in shares of Kinross Gold by 36.5% in the first quarter. Boston Partners now owns 47,526,913 shares of the mining company’s stock valued at $632,797,000 after buying an additional 12,705,061 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of Kinross Gold by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,825,153 shares of the mining company’s stock valued at $184,827,000 after buying an additional 37,942 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kinross Gold by 6.4% during the first quarter. Dimensional Fund Advisors LP now owns 10,022,770 shares of the mining company’s stock worth $126,378,000 after acquiring an additional 603,388 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Kinross Gold by 15.9% during the second quarter. Allianz Asset Management GmbH now owns 8,048,760 shares of the mining company’s stock worth $125,409,000 after acquiring an additional 1,101,704 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

NYSE:KGC opened at $24.30 on Friday. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The company has a market cap of $29.41 billion, a P/E ratio of 19.60, a P/E/G ratio of 0.42 and a beta of 0.60. 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 stock’s 50-day simple moving average is $23.80 and its 200 day simple moving average is $18.73.

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

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be paid a $0.035 dividend. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is 8.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on KGC shares. 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 research note on Friday, October 10th. Raymond James Financial upped their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus target price of $27.56.

About Kinross Gold

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.