Hillsdale Investment Management Inc. Cuts Position in Kinross Gold Corporation $KGC

Hillsdale Investment Management Inc. decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 21.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,704,212 shares of the mining company’s stock after selling 454,775 shares during the period. Kinross Gold accounts for 1.3% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 12th largest position. Hillsdale Investment Management Inc. owned approximately 0.14% of Kinross Gold worth $42,286,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jupiter Asset Management Ltd. increased its position in Kinross Gold by 8.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,075,564 shares of the mining company’s stock valued at $51,524,000 after buying an additional 167,265 shares in the last quarter. Cumberland Partners Ltd purchased a new stake in shares of Kinross Gold in the third quarter worth $389,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Kinross Gold by 4.7% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 359,609 shares of the mining company’s stock valued at $8,936,000 after acquiring an additional 15,998 shares in the last quarter. denkapparat Operations GmbH increased its holdings in shares of Kinross Gold by 16.1% during the third quarter. denkapparat Operations GmbH now owns 58,560 shares of the mining company’s stock valued at $1,455,000 after acquiring an additional 8,110 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Kinross Gold by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 50,738,541 shares of the mining company’s stock worth $1,259,280,000 after purchasing an additional 1,553,594 shares during the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 0.1%

Shares of KGC stock opened at $33.42 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.68 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 12-month low of $10.32 and a 12-month high of $39.11. The stock has a market capitalization of $40.10 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.36 and a beta of 0.74. The firm’s 50 day moving average is $32.18 and its 200 day moving average is $26.59.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Wednesday, February 18th. The mining company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.05 billion. Kinross Gold had a net margin of 33.90% and a return on equity of 28.22%. The company’s quarterly revenue was up 42.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. Research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be issued a $0.04 dividend. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, March 11th. Kinross Gold’s dividend payout ratio is currently 7.14%.

Analyst Ratings Changes

Several brokerages recently commented on KGC. Weiss Ratings reissued a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Jefferies Financial Group reissued a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a research report on Sunday, December 7th. UBS Group set a $43.00 price objective on shares of Kinross Gold in a report on Friday, January 30th. Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Cormark lowered Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Company 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.