Todd Asset Management LLC Sells 34,600 Shares of Kinross Gold Corporation (NYSE:KGC)

Key Points

• Todd Asset Management LLC decreased its holdings in Kinross Gold Corporation (NYSE:KGC) by 9.7%, owning 323,700 shares valued at approximately $4.08 million after selling 34,600 shares in the first quarter.
• Analysts have raised price targets for Kinross Gold, with Canaccord Genuity Group increasing their target from $28.00 to $29.50, and the stock currently has an average rating of "Buy" with a consensus target of $20.07.
• Kinross Gold has announced a quarterly dividend of $0.03 per share, reflecting an annual yield of 0.6%, with a dividend payout ratio of 9.68%.

Todd Asset Management LLC decreased its position in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 9.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 323,700 shares of the mining company's stock after selling 34,600 shares during the period. Todd Asset Management LLC's holdings in Kinross Gold were worth $4,082,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Kinross Gold during the 1st quarter worth approximately $16,288,000. Entropy Technologies LP increased its position in shares of Kinross Gold by 30.3% during the 1st quarter. Entropy Technologies LP now owns 644,225 shares of the mining company's stock worth $8,124,000 after purchasing an additional 149,635 shares during the last quarter. Atlas Capital Advisors Inc. increased its position in shares of Kinross Gold by 170.6% during the 1st quarter. Atlas Capital Advisors Inc. now owns 33,992 shares of the mining company's stock worth $429,000 after purchasing an additional 21,429 shares during the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Kinross Gold by 108.3% during the 1st quarter. PCJ Investment Counsel Ltd. now owns 420,230 shares of the mining company's stock worth $5,297,000 after purchasing an additional 218,450 shares during the last quarter. Finally, Forsta AP Fonden increased its position in shares of Kinross Gold by 181.0% during the 1st quarter. Forsta AP Fonden now owns 720,400 shares of the mining company's stock worth $9,075,000 after purchasing an additional 464,000 shares during the last quarter. Institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

Shares of KGC traded down $0.27 during trading hours on Wednesday, hitting $19.06. 20,953,477 shares of the company were exchanged, compared to its average volume of 19,404,612. The company has a market cap of $23.16 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 0.64 and a beta of 0.55. Kinross Gold Corporation has a fifty-two week low of $8.31 and a fifty-two week high of $19.45. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The firm's fifty day moving average is $16.08 and its 200 day moving average is $14.00.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last released its earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%. Kinross Gold's quarterly revenue was up 41.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's dividend payout ratio is currently 9.68%.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bankshares reissued an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Royal Bank Of Canada boosted their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Scotiabank boosted their target price on Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. Finally, CIBC boosted their target price on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $20.07.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.