Capital Counsel LLC NY Raises Stake in Kinross Gold Corporation $KGC

Capital Counsel LLC NY raised its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 67.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 386,892 shares of the mining company’s stock after buying an additional 156,110 shares during the quarter. Kinross Gold comprises 0.2% of Capital Counsel LLC NY’s portfolio, making the stock its 18th largest holding. Capital Counsel LLC NY’s holdings in Kinross Gold were worth $6,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its stake in Kinross Gold by 20.4% during the first quarter. Avantax Advisory Services Inc. now owns 19,101 shares of the mining company’s stock valued at $241,000 after acquiring an additional 3,241 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Kinross Gold in the 1st quarter worth approximately $55,000. Natixis Advisors LLC boosted its holdings in Kinross Gold by 20.8% in the 1st quarter. Natixis Advisors LLC now owns 169,671 shares of the mining company’s stock valued at $2,140,000 after purchasing an additional 29,240 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Kinross Gold by 166.2% during the 1st quarter. Jupiter Asset Management Ltd. now owns 518,654 shares of the mining company’s stock valued at $6,533,000 after purchasing an additional 323,788 shares in the last quarter. Finally, R Squared Ltd increased its holdings in shares of Kinross Gold by 11.1% in the first quarter. R Squared Ltd now owns 17,080 shares of the mining company’s stock worth $215,000 after purchasing an additional 1,710 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $28.18 on Monday. The stock’s 50-day moving average is $24.82 and its 200 day moving average is $19.98. The stock has a market cap of $34.02 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60. Kinross Gold Corporation has a 1-year low of $8.99 and a 1-year high of $28.33. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Wednesday, November 26th. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio is 9.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Desjardins assumed coverage on Kinross Gold in a research report on Friday. They set a “buy” rating for the company. TD Securities boosted their price objective on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.69.

Kinross Gold Company Profile

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.