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

TD Waterhouse Canada Inc. decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,208,270 shares of the mining company’s stock after selling 50,627 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Kinross Gold were worth $34,016,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the fourth quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new stake in shares of Kinross Gold in the fourth quarter valued at about $26,000. Caitlin John LLC purchased a new stake in shares of Kinross Gold in the third quarter valued at about $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold in the third quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of Kinross Gold in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.0%

Shares of KGC stock opened at $34.94 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.35 and a quick ratio of 1.37. The firm has a market cap of $41.72 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.70 and a beta of 0.82. The company has a 50-day moving average of $32.49 and a two-hundred day moving average of $29.69. Kinross Gold Corporation has a 1-year low of $13.28 and a 1-year high of $39.11.

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

Kinross Gold Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on KGC. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Scotiabank upped their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Royal Bank Of Canada raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. UBS Group dropped their price objective on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating for the company in a report on Friday, March 27th. Finally, Zacks Research lowered shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and an average target price of $38.81.

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.