TD Asset Management Inc Purchases 1,311,379 Shares of Kinross Gold Corporation $KGC

TD Asset Management Inc lifted its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 30.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,617,329 shares of the mining company’s stock after acquiring an additional 1,311,379 shares during the quarter. TD Asset Management Inc owned approximately 0.46% of Kinross Gold worth $139,444,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Kinross Gold during the second quarter valued at about $389,025,000. Man Group plc increased its stake in shares of Kinross Gold by 47.8% in the second quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock worth $261,646,000 after purchasing an additional 5,411,491 shares in the last quarter. Bank of America Corp DE raised its position in shares of Kinross Gold by 81.2% in the second quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after purchasing an additional 3,617,320 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Kinross Gold by 50.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 9,197,872 shares of the mining company’s stock valued at $228,227,000 after buying an additional 3,089,959 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Kinross Gold by 47.5% in the 2nd quarter. Invesco Ltd. now owns 8,947,418 shares of the mining company’s stock worth $139,848,000 after buying an additional 2,880,097 shares during the period. 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. Cormark lowered shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. Zacks Research lowered Kinross Gold from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Finally, Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Trading Down 0.0%

Kinross Gold stock opened at $36.05 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $39.11. The stock has a market cap of $43.25 billion, a P/E ratio of 18.39, a PEG ratio of 0.39 and a beta of 0.74. The firm’s fifty day moving average price is $32.65 and its 200-day moving average price is $27.01.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, February 18th. The mining company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a dividend yield of 0.4%. Kinross Gold’s payout ratio is presently 7.14%.

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.