Kingsview Wealth Management LLC Boosts Stock Position in Kinross Gold Co. (NYSE:KGC)

Kingsview Wealth Management LLC lifted its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 93.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,945 shares of the mining company’s stock after buying an additional 12,058 shares during the period. Kingsview Wealth Management LLC’s holdings in Kinross Gold were worth $233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Kinross Gold by 5.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,267,312 shares of the mining company’s stock worth $124,276,000 after acquiring an additional 642,007 shares during the period. Mackenzie Financial Corp boosted its holdings in Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock worth $91,255,000 after buying an additional 643,013 shares during the last quarter. National Bank of Canada FI increased its stake in Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after buying an additional 2,267,999 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Kinross Gold by 25.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,758,027 shares of the mining company’s stock worth $72,867,000 after buying an additional 1,777,076 shares in the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Kinross Gold by 28.0% during the third quarter. Artemis Investment Management LLP now owns 8,567,435 shares of the mining company’s stock valued at $80,191,000 after acquiring an additional 1,871,939 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KGC. StockNews.com raised Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Scotiabank raised their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Friday, October 4th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Kinross Gold has a consensus rating of “Buy” and an average target price of $11.13.

Kinross Gold Stock Down 0.9 %

NYSE KGC opened at $9.71 on Friday. The business’s fifty day simple moving average is $9.93 and its 200-day simple moving average is $9.00. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The firm has a market cap of $11.93 billion, a PE ratio of 15.92, a P/E/G ratio of 0.44 and a beta of 1.22. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.12 earnings per share. Kinross Gold’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities analysts anticipate that Kinross Gold Co. will post 0.7 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a yield of 1.24%. Kinross Gold’s dividend payout ratio (DPR) is 19.67%.

About Kinross Gold

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.