Waratah Capital Advisors Ltd. Sells 176,818 Shares of Kinross Gold Corporation $KGC

Waratah Capital Advisors Ltd. reduced its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,869,033 shares of the mining company’s stock after selling 176,818 shares during the period. Kinross Gold makes up about 0.8% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 8th biggest holding. Waratah Capital Advisors Ltd.’s holdings in Kinross Gold were worth $46,445,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold in the 3rd quarter valued at $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Kinross Gold in the 3rd quarter valued at approximately $31,000. Armstrong Advisory Group Inc. increased its holdings in shares of Kinross Gold by 95.6% during the third 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. Hollencrest Capital Management bought a new stake in shares of Kinross Gold during the third quarter worth about $40,000. Finally, Mather Group LLC. acquired a new position in Kinross Gold in the 3rd quarter valued at approximately $44,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Up 1.6%

Shares of NYSE:KGC opened at $36.09 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $32.49 and its 200-day moving average price is $26.95. The stock has a market capitalization of $43.30 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 0.38 and a beta of 0.74. 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 released its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company 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 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, March 11th. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s dividend payout ratio is 7.14%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a report on Wednesday, February 4th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Scotiabank boosted their price objective on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 target price on shares of Kinross Gold in a report on Sunday, December 7th. Finally, Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.81.

Kinross Gold 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.