TD Asset Management Inc Buys 220,859 Shares of Kinross Gold Corporation $KGC

Key Points

• TD Asset Management Inc increased its stake in Kinross Gold Corporation by 5.4%, acquiring an additional 220,859 shares in the 2nd quarter, bringing its total ownership to approximately 4.3 million shares, valued at $67.15 million.
• Brokerages have mixed ratings on Kinross Gold, with UBS Group upgrading their price target from $20.00 to $27.00 and Zacks Research downgrading the stock from "strong-buy" to "hold."
• The company announced a quarterly dividend of $0.03 per share, resulting in an annual dividend yield of 0.4% with a payout ratio of 9.68%.

TD Asset Management Inc grew its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,305,950 shares of the mining company's stock after purchasing an additional 220,859 shares during the quarter. TD Asset Management Inc owned approximately 0.35% of Kinross Gold worth $67,153,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its position in shares of Kinross Gold by 32.4% in the second quarter. Sequoia Financial Advisors LLC now owns 49,069 shares of the mining company's stock valued at $767,000 after purchasing an additional 12,013 shares during the last quarter. Yousif Capital Management LLC grew its holdings in Kinross Gold by 6.9% in the 2nd quarter. Yousif Capital Management LLC now owns 19,985 shares of the mining company's stock valued at $312,000 after buying an additional 1,290 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kinross Gold by 8.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 100,316 shares of the mining company's stock worth $1,568,000 after buying an additional 7,649 shares in the last quarter. Blue Trust Inc. increased its position in Kinross Gold by 87.3% during the second quarter. Blue Trust Inc. now owns 14,628 shares of the mining company's stock worth $229,000 after acquiring an additional 6,817 shares during the period. Finally, Wealthstar Advisors LLC bought a new stake in Kinross Gold in the 2nd quarter valued at about $986,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KGC. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. UBS Group increased their price target on Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. National Bankshares reaffirmed an "outperform" rating on shares of Kinross Gold in a report on Tuesday, June 24th. Raymond James Financial upped their target price on Kinross Gold from $20.00 to $25.00 and gave the company a "market perform" rating in a research report on Friday, October 10th. Finally, Wall Street Zen upgraded Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 3rd. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $25.19.

Kinross Gold Trading Up 5.8%

Shares of KGC stock opened at $26.93 on Thursday. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $27.45. The stock's fifty day moving average price is $22.29 and its two-hundred day moving average price is $17.45. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. The company has a market cap of $32.65 billion, a PE ratio of 21.72, a P/E/G ratio of 0.81 and a beta of 0.64.

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

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Kinross Gold's payout ratio is 9.68%.

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.

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