Waratah Capital Advisors Ltd. Reduces Holdings in Kinross Gold Corporation $KGC

Waratah Capital Advisors Ltd. lowered its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 8.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,869,033 shares of the mining company’s stock after selling 176,818 shares during the period. Kinross Gold makes up 0.8% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 8th biggest holding. Waratah Capital Advisors Ltd. owned about 0.15% of Kinross Gold worth $46,445,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its holdings in shares of Kinross Gold by 192.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,647,057 shares of the mining company’s stock worth $90,629,000 after purchasing an additional 2,398,621 shares in the last quarter. Osaic Holdings Inc. lifted its position in Kinross Gold by 203.0% in the second quarter. Osaic Holdings Inc. now owns 152,755 shares of the mining company’s stock worth $2,388,000 after purchasing an additional 102,348 shares during the period. U S Global Investors Inc. boosted its stake in Kinross Gold by 60.5% during the third quarter. U S Global Investors Inc. now owns 417,334 shares of the mining company’s stock worth $10,371,000 after buying an additional 157,334 shares in the last quarter. Dynasty Wealth Management LLC increased its holdings in Kinross Gold by 185.4% in the 3rd quarter. Dynasty Wealth Management LLC now owns 226,215 shares of the mining company’s stock valued at $5,621,000 after buying an additional 146,955 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Kinross Gold in the 3rd quarter valued at $1,253,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

NYSE:KGC opened at $36.09 on Wednesday. The stock has a market capitalization of $43.30 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 0.38 and a beta of 0.74. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 1 year low of $10.32 and a 1 year high of $39.11. The firm has a 50 day moving average of $32.49 and a 200-day moving average of $26.95.

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, topping the consensus estimate of $0.55 by $0.12. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business earned $0.20 EPS. The business’s revenue for the quarter was up 42.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a dividend of $0.04 per share. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, March 11th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Kinross Gold’s dividend payout ratio is currently 7.14%.

Analysts Set New Price Targets

KGC has been the topic of several recent research reports. Canadian Imperial Bank of Commerce set a $54.00 target price on shares of Kinross Gold in a research report on Wednesday, February 4th. UBS Group set a $43.00 price target on shares of Kinross Gold in a research note on Friday, January 30th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Scotiabank raised their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average price target of $34.81.

Kinross Gold Company 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.