Hillsdale Investment Management Inc. Sells 454,775 Shares of Kinross Gold Corporation $KGC

Hillsdale Investment Management Inc. lessened its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 21.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,704,212 shares of the mining company’s stock after selling 454,775 shares during the quarter. Kinross Gold comprises approximately 1.3% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 12th biggest holding. Hillsdale Investment Management Inc.’s holdings in Kinross Gold were worth $42,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in Kinross Gold by 35.1% in the 1st quarter. AQR Capital Management LLC now owns 70,370 shares of the mining company’s stock worth $887,000 after purchasing an additional 18,287 shares during the period. Caxton Associates LLP purchased a new stake in Kinross Gold in the first quarter worth about $158,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the second quarter worth about $167,000. Yousif Capital Management LLC lifted its position in shares of Kinross Gold by 6.9% during the 2nd quarter. Yousif Capital Management LLC now owns 19,985 shares of the mining company’s stock valued at $312,000 after buying an additional 1,290 shares in the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Kinross Gold by 9.6% during the 2nd quarter. D.A. Davidson & CO. now owns 63,483 shares of the mining company’s stock valued at $992,000 after acquiring an additional 5,572 shares during the period. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KGC. UBS Group set a $43.00 target price on shares of Kinross Gold in a research note on Friday, January 30th. Scotiabank increased their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research report on Wednesday, January 28th. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, Zacks Research cut Kinross Gold from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Kinross Gold presently has an average rating of “Moderate Buy” and an average target price of $34.81.

Kinross Gold Stock Performance

KGC opened at $33.42 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.68 and a current ratio of 2.35. The stock has a market capitalization of $40.10 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.36 and a beta of 0.74. The company has a fifty day moving average of $32.18 and a 200 day moving average of $26.59. Kinross Gold Corporation has a fifty-two week low of $10.32 and a fifty-two week high of $39.11.

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

Kinross Gold Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This is a boost 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%. Kinross Gold’s dividend payout ratio is currently 7.14%.

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.