TD Waterhouse Canada Inc. Has $32.03 Million Stake in Kinross Gold Corporation $KGC

TD Waterhouse Canada Inc. boosted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,258,897 shares of the mining company’s stock after purchasing an additional 121,915 shares during the period. TD Waterhouse Canada Inc. owned 0.10% of Kinross Gold worth $32,031,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Kinross Gold during the 3rd quarter valued at about $31,000. Armstrong Advisory Group Inc. lifted its position in Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after buying an additional 717 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Kinross Gold during the 3rd quarter valued at $44,000. Transce3nd LLC boosted its position in Kinross Gold by 128.2% during the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Kinross Gold in the third quarter valued at about $56,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

KGC opened at $38.10 on Thursday. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $24.58. The firm has a market capitalization of $45.72 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 0.44 and a beta of 0.75. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business posted $0.24 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th were paid a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio is presently 9.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KGC shares. UBS Group boosted their price target on Kinross Gold from $33.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, January 16th. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Scotiabank lifted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday. Desjardins started coverage on shares of Kinross Gold in a report on Friday, November 28th. They issued a “buy” rating for the company. Finally, CIBC raised their target price on Kinross Gold from $37.00 to $38.50 and gave the company an “outperform” rating in a report on Friday, January 16th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Kinross Gold currently has an average rating of “Moderate Buy” and a consensus target price of $32.19.

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.