Hillsdale Investment Management Inc. Increases Stock Position in Kinross Gold Corporation $KGC

Key Points

• Hillsdale Investment Management boosted its stake in Kinross Gold by 11.3% in the first quarter, holding 1,501,773 shares worth about $45.9 million and making KGC its 18th largest position.
• Analyst sentiment remains generally positive, with the stock carrying a Moderate Buy consensus and an average price target of $37.81, though some firms recently trimmed targets or downgraded ratings.
• Kinross Gold reported strong quarterly results, including EPS of $0.71 versus estimates of $0.68 and revenue up 60.8% year over year; the company also paid a quarterly dividend of $0.04 per share.

Hillsdale Investment Management Inc. increased its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 11.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,501,773 shares of the mining company's stock after buying an additional 151,971 shares during the period. Kinross Gold accounts for 1.2% of Hillsdale Investment Management Inc.'s investment portfolio, making the stock its 18th biggest position. Hillsdale Investment Management Inc. owned approximately 0.13% of Kinross Gold worth $45,902,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Kinross Gold in the fourth quarter worth about $26,000. Financial Management Professionals Inc. purchased a new position in Kinross Gold during the fourth quarter valued at approximately $26,000. Ascentis Independent Advisors purchased a new position in Kinross Gold during the first quarter valued at approximately $29,000. Virtus Advisers LLC bought a new stake in Kinross Gold during the 3rd quarter worth approximately $28,000. Finally, Elevated Capital Advisors LLC bought a new stake in Kinross Gold during the 4th quarter worth approximately $36,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on KGC. Wall Street Zen downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Royal Bank Of Canada decreased their price target on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday. Freedom Capital upgraded Kinross Gold from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 18th. Weiss Ratings lowered Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group reduced their target price on Kinross Gold from $41.00 to $38.00 and set a "buy" rating for the company in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.81.

Kinross Gold Stock Down 2.8%

Shares of NYSE:KGC opened at $23.48 on Tuesday. The firm has a market capitalization of $27.85 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a 52-week low of $15.10 and a 52-week high of $39.11. The firm has a fifty day moving average of $27.04 and a 200 day moving average of $30.52.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the business posted $0.30 earnings per share. The company's revenue for the quarter was up 60.8% on a year-over-year basis. As a group, research analysts anticipate that Kinross Gold Corporation will post 2.7 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is currently 6.78%.

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.

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