TD Waterhouse Canada Inc. Makes New $15.79 Million Investment in Kinross Gold Corporation $KGC

Key Points

• TD Waterhouse Canada acquired 656,820 Kinross Gold shares worth approximately $15.79 million, giving it a 0.06% stake. Institutional investors collectively own 63.69% of the company.
• Analysts maintain a generally positive outlook, with one Strong Buy, 13 Buy and two Hold ratings. The consensus rating is “Moderate Buy,” with an average price target of $37.11.
• Kinross reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also pays a quarterly dividend of $0.04 per share, yielding about 0.7%.

TD Waterhouse Canada Inc. acquired a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 656,820 shares of the mining company's stock, valued at approximately $15,795,000. TD Waterhouse Canada Inc. owned about 0.06% of Kinross Gold at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Ascentis Independent Advisors purchased a new position in Kinross Gold during the 1st quarter worth $29,000. Continuum Advisory LLC acquired a new position in Kinross Gold during the 2nd quarter valued at about $26,000. Caitlin John LLC raised its stake in Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock valued at $32,000 after buying an additional 400 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Kinross Gold by 80.7% in the first quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock valued at $41,000 after buying an additional 605 shares during the last quarter. Finally, Archer Investment Corp purchased a new stake in Kinross Gold in the first quarter valued at about $46,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Analyst Upgrades and Downgrades

KGC has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating and issued a $34.00 price target on shares of Kinross Gold in a report on Friday. Royal Bank Of Canada dropped their price target on Kinross Gold from $40.00 to $39.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group cut their price objective on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Zacks Research raised shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Finally, TD Securities decreased their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.11.

Kinross Gold Price Performance

Shares of KGC opened at $24.01 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The company's fifty day moving average price is $27.59 and its 200-day moving average price is $27.68. Kinross Gold Corporation has a 1-year low of $21.90 and a 1-year high of $39.11. The firm has a market capitalization of $28.44 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.79 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. The firm's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. On average, equities research analysts predict that Kinross Gold Corporation will post 2.43 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, August 20th. Kinross Gold's payout ratio is presently 6.06%.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross's producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.

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