Kinross Gold Corporation $KGC Shares Bought by Scotia Capital Inc.

Scotia Capital Inc. lifted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,668 shares of the mining company’s stock after purchasing an additional 6,417 shares during the quarter. Scotia Capital Inc.’s holdings in Kinross Gold were worth $3,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of Kinross Gold by 95.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company’s stock worth $87,639,000 after buying an additional 3,398,687 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Kinross Gold by 21.9% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company’s stock valued at $4,076,000 after acquiring an additional 57,966 shares during the period. Sprott Inc. increased its stake in Kinross Gold by 1.7% during the first quarter. Sprott Inc. now owns 2,932,567 shares of the mining company’s stock worth $36,976,000 after acquiring an additional 48,905 shares during the last quarter. Bayforest Capital Ltd raised its holdings in shares of Kinross Gold by 30.2% in the 2nd quarter. Bayforest Capital Ltd now owns 55,218 shares of the mining company’s stock worth $863,000 after purchasing an additional 12,821 shares during the period. Finally, Truist Financial Corp raised its holdings in shares of Kinross Gold by 9.0% in the 2nd quarter. Truist Financial Corp now owns 302,645 shares of the mining company’s stock worth $4,730,000 after purchasing an additional 25,093 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 2.7%

NYSE KGC opened at $28.18 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $28.33. The business has a 50 day moving average price of $24.82 and a two-hundred day moving average price of $19.94. The stock has a market cap of $34.02 billion, a PE ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping 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 revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, sell-side analysts predict 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 will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 26th will be issued a $0.035 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s dividend payout ratio (DPR) is presently 9.79%.

Wall Street Analyst Weigh In

KGC has been the subject of a number of research reports. Cormark cut Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research report on Friday, October 31st. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. UBS Group increased their price objective on shares of Kinross Gold from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, CIBC raised their target price on shares of Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.69.

Kinross Gold 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.