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

TD Asset Management Inc boosted its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,879,190 shares of the mining company’s stock after purchasing an additional 261,861 shares during the period. TD Asset Management Inc’s holdings in Kinross Gold were worth $165,814,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC bought a new position in Kinross Gold in the third quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in Kinross Gold in the fourth quarter worth approximately $26,000. Financial Management Professionals Inc. bought a new position in Kinross Gold in the fourth quarter worth approximately $26,000. Virtus Advisers LLC bought a new position in Kinross Gold in the third quarter worth approximately $28,000. Finally, Harvest Fund Management Co. Ltd raised its position in Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock worth $32,000 after acquiring an additional 589 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $28.60 on Friday. The firm has a fifty day moving average price of $30.73 and a 200-day moving average price of $30.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The stock has a market cap of $34.11 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 1.00 and a beta of 0.71. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. Equities analysts anticipate that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. Weiss Ratings downgraded shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, May 20th. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. TD Securities decreased their price target on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, UBS Group decreased their price target on shares of Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.81.

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.