Canoe Financial LP Boosts Holdings in Kinross Gold Corporation $KGC

Canoe Financial LP raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 47.6% during the third quarter, Holdings Channel reports. The fund owned 198,371 shares of the mining company’s stock after buying an additional 63,965 shares during the period. Canoe Financial LP’s holdings in Kinross Gold were worth $4,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. raised 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 period. Transce3nd LLC grew its holdings in Kinross Gold by 128.2% during the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock valued at $46,000 after purchasing an additional 1,637 shares during the period. MAI Capital Management increased its position in Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after buying an additional 907 shares during the last quarter. IFP Advisors Inc raised its stake 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 buying an additional 835 shares during the period. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Kinross Gold in the first quarter valued at $84,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Stock Down 0.8%

KGC stock opened at $29.23 on Friday. The stock has a 50-day simple moving average of $25.99 and a two-hundred day simple moving average of $21.66. Kinross Gold Corporation has a twelve month low of $9.04 and a twelve month high of $29.80. The firm has a market capitalization of $35.17 billion, a PE ratio of 20.44, a PEG ratio of 0.43 and a beta of 0.74. The company has a quick ratio of 1.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.15.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data 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 company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a net margin of 27.30% and a return on equity of 22.25%. Kinross Gold’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the business earned $0.24 earnings per share. On average, equities analysts predict that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th were given a dividend of $0.035 per share. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Analyst Ratings Changes

Several research analysts have recently weighed in on KGC shares. Weiss Ratings reiterated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. CIBC increased their target price on shares of Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Wall Street Zen upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 20th. Finally, Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold 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.