Kinross Gold Corporation $KGC is Triasima Portfolio Management inc.’s 3rd Largest Position

Triasima Portfolio Management inc. trimmed its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 814,961 shares of the mining company’s stock after selling 44,130 shares during the quarter. Kinross Gold accounts for 3.1% of Triasima Portfolio Management inc.’s holdings, making the stock its 3rd largest holding. Triasima Portfolio Management inc.’s holdings in Kinross Gold were worth $20,231,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its stake in Kinross Gold by 95.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after acquiring an additional 717 shares during the period. Mather Group LLC. purchased a new position in Kinross Gold during the 3rd quarter valued at about $44,000. Transce3nd LLC raised its holdings in shares of Kinross Gold by 128.2% in the 2nd quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Kinross Gold in the 3rd quarter worth approximately $56,000. Finally, MAI Capital Management boosted its stake in shares of Kinross Gold by 22.0% during the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after purchasing an additional 907 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. TD Securities lifted their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Desjardins assumed coverage on Kinross Gold in a research report on Friday, November 28th. They issued a “buy” rating for the company. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Friday, October 31st. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $30.56.

Kinross Gold Trading Up 4.8%

NYSE:KGC opened at $35.28 on Tuesday. The company has a market capitalization of $42.33 billion, a P/E ratio of 24.67, a PEG ratio of 0.38 and a beta of 0.75. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. Kinross Gold Corporation has a 12 month low of $10.28 and a 12 month high of $35.11. The firm has a fifty day simple moving average of $28.36 and a 200-day simple moving average of $23.59.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were given a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.4%. The ex-dividend date was Wednesday, November 26th. Kinross Gold’s dividend payout ratio (DPR) is 9.79%.

About Kinross Gold

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.