TD Asset Management Inc Buys 1,311,379 Shares of Kinross Gold Corporation $KGC

TD Asset Management Inc grew its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 30.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,617,329 shares of the mining company’s stock after buying an additional 1,311,379 shares during the quarter. TD Asset Management Inc’s holdings in Kinross Gold were worth $139,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in shares of Kinross Gold by 192.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock valued at $90,629,000 after buying an additional 2,398,621 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in Kinross Gold by 203.0% during the 2nd quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock valued at $2,388,000 after acquiring an additional 102,348 shares during the period. U S Global Investors Inc. boosted its holdings in Kinross Gold by 60.5% during the 3rd quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock valued at $10,371,000 after acquiring an additional 157,334 shares during the period. Dynasty Wealth Management LLC grew its position in Kinross Gold by 185.4% during the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock worth $5,621,000 after acquiring an additional 146,955 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Kinross Gold in the 3rd quarter worth approximately $1,253,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of KGC stock opened at $36.05 on Thursday. The stock has a fifty day moving average of $32.65 and a 200 day moving average of $27.01. Kinross Gold Corporation has a 52 week low of $10.32 and a 52 week high of $39.11. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.39 and a beta of 0.74. The company has a quick ratio of 1.37, a current ratio of 2.35 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC) (TSE:K) last issued 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 business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, research analysts expect 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. Investors of record on Wednesday, March 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Kinross Gold’s payout ratio is currently 7.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KGC shares. Wall Street Zen raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Scotiabank upped their price target 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. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, October 29th. Canadian Imperial Bank of Commerce set a $54.00 price target on shares of Kinross Gold in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Kinross Gold currently has a consensus rating of “Moderate Buy” and an average target price of $34.81.

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.