TD Asset Management Inc Buys 261,861 Shares of Kinross Gold Corporation $KGC

Key Points

• TD Asset Management increased its Kinross Gold stake by 4.7% in the fourth quarter, buying 261,861 additional shares and bringing its total holdings to 5,879,190 shares valued at about $165.8 million.
• Institutional interest in Kinross Gold remains high, with hedge funds and other investors owning 63.69% of the company’s stock. Several firms added to their positions recently, including Korea Investment CORP and Vanguard Group.
• Kinross Gold reported better-than-expected quarterly earnings of $0.71 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $38.81. The company also paid a quarterly dividend of $0.04 per share, equal to a 0.6% annualized yield.

TD Asset Management Inc increased its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,879,190 shares of the mining company's stock after buying an additional 261,861 shares during the period. TD Asset Management Inc owned 0.49% of Kinross Gold worth $165,814,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Korea Investment CORP grew its holdings in Kinross Gold by 372.4% in the third quarter. Korea Investment CORP now owns 3,294,945 shares of the mining company's stock worth $81,793,000 after purchasing an additional 2,597,455 shares during the period. Vanguard Group Inc. grew its holdings in Kinross Gold by 3.2% in the third quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company's stock worth $1,259,280,000 after purchasing an additional 1,553,594 shares during the period. FORA Capital LLC purchased a new stake in Kinross Gold in the third quarter worth about $2,060,000. Regal Partners Ltd grew its holdings in Kinross Gold by 79.9% in the third quarter. Regal Partners Ltd now owns 977,243 shares of the mining company's stock worth $24,284,000 after purchasing an additional 433,953 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Kinross Gold by 369.0% in the fourth quarter. Prospera Financial Services Inc now owns 86,626 shares of the mining company's stock worth $2,439,000 after purchasing an additional 68,154 shares during the period. Hedge funds and other institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KGC shares. UBS Group dropped their target price on shares of Kinross Gold from $43.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Wall Street Zen downgraded shares of Kinross Gold from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 24th. Weiss Ratings downgraded shares of Kinross Gold from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, May 20th. Freedom Capital upgraded shares of Kinross Gold from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada upgraded shares of Kinross Gold from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $36.00 to $45.00 in a research note on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.81.

Kinross Gold Stock Up 1.5%

Shares of Kinross Gold stock opened at $28.60 on Friday. The company has a market cap of $34.11 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.00 and a beta of 0.71. The company's 50 day moving average is $30.73 and its 200 day moving average is $30.94. Kinross Gold Corporation has a twelve month low of $14.71 and a twelve month high of $39.11. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data 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. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Research analysts anticipate that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold's dividend payout ratio is 6.78%.

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.

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