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

Capital Counsel LLC NY raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 67.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 386,892 shares of the mining company’s stock after acquiring an additional 156,110 shares during the period. Kinross Gold comprises 0.2% of Capital Counsel LLC NY’s holdings, making the stock its 18th largest position. Capital Counsel LLC NY’s holdings in Kinross Gold were worth $6,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in shares of Kinross Gold in the first quarter worth $55,000. Headlands Technologies LLC bought a new stake in Kinross Gold in the 1st quarter worth $77,000. MAI Capital Management increased its position in shares of Kinross Gold by 22.0% in 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. IFP Advisors Inc increased its position in shares of Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after acquiring an additional 835 shares during the period. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Kinross Gold during the first quarter valued at about $84,000. Institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. CIBC raised their target price on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Raymond James Financial lifted their price objective on Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Zacks Research raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Scotiabank reaffirmed an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $27.69.

Kinross Gold Stock Up 2.7%

Shares of NYSE:KGC opened at $28.18 on Monday. Kinross Gold Corporation has a 52-week low of $8.99 and a 52-week high of $28.33. The firm has a market capitalization of $34.02 billion, a P/E ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60. The stock has a 50 day moving average price of $24.82 and a 200-day moving average price of $19.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities research 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. Stockholders of record on Wednesday, November 26th will be given a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is currently 9.79%.

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.