Kinross Gold Corporation $KGC Holdings Cut by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 61.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,930 shares of the mining company’s stock after selling 757,170 shares during the period. Intact Investment Management Inc.’s holdings in Kinross Gold were worth $11,714,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. lifted its holdings in shares of Kinross Gold by 95.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares during the last quarter. Mather Group LLC. acquired a new stake in Kinross Gold in the third quarter worth $44,000. Transce3nd LLC increased its position in Kinross Gold by 128.2% in the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after buying an additional 1,637 shares during the period. First Horizon Corp bought a new stake in Kinross Gold in the third quarter valued at $56,000. Finally, MAI Capital Management boosted its holdings in shares of Kinross Gold by 22.0% during the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock valued at $78,000 after acquiring an additional 907 shares during the period. 63.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KGC has been the topic of a number of analyst reports. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a report on Thursday, October 23rd. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. Finally, Raymond James Financial raised their target price on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.56.

Kinross Gold Trading Up 1.5%

Kinross Gold stock opened at $37.18 on Monday. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $37.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.83 and a quick ratio of 1.68. The stock has a market capitalization of $44.61 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 0.43 and a beta of 0.75. The firm has a 50 day simple moving average of $29.22 and a 200-day simple moving average of $24.17.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

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.