Waratah Capital Advisors Ltd. Sells 1,384,385 Shares of Kinross Gold Corporation $KGC

Waratah Capital Advisors Ltd. trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 40.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,045,851 shares of the mining company’s stock after selling 1,384,385 shares during the quarter. Kinross Gold comprises 0.9% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 12th biggest holding. Waratah Capital Advisors Ltd.’s holdings in Kinross Gold were worth $31,977,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC lifted its position in shares of Kinross Gold by 24.1% during the 2nd quarter. Intech Investment Management LLC now owns 893,316 shares of the mining company’s stock valued at $13,932,000 after buying an additional 173,712 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Kinross Gold by 59.0% during the second quarter. Cetera Investment Advisers now owns 117,629 shares of the mining company’s stock valued at $1,839,000 after purchasing an additional 43,650 shares during the last quarter. Creative Planning increased its stake in shares of Kinross Gold by 16.2% in the second quarter. Creative Planning now owns 112,758 shares of the mining company’s stock worth $1,762,000 after purchasing an additional 15,720 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Kinross Gold in the second quarter valued at approximately $180,000. Finally, D Orazio & Associates Inc. bought a new stake in shares of Kinross Gold in the second quarter valued at approximately $163,000. 63.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KGC. Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. CIBC lifted their price target on Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Raymond James Financial increased their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. UBS Group raised their target price on Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, October 16th. Finally, TD Securities upped their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $27.56.

Kinross Gold Price Performance

NYSE:KGC opened at $25.47 on Friday. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $27.84. The stock has a fifty day moving average of $24.20 and a 200 day moving average of $19.14. 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 firm has a market capitalization of $30.81 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. On average, research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. The ex-dividend date is Wednesday, November 26th. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Kinross Gold Profile

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.