Westerkirk Capital Inc. Lowers Position in Kinross Gold Corporation $KGC

Westerkirk Capital Inc. trimmed its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 62.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the mining company’s stock after selling 35,200 shares during the period. Westerkirk Capital Inc.’s holdings in Kinross Gold were worth $597,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of KGC. Caitlin John LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new position in shares of Kinross Gold during the 4th quarter valued at about $26,000. Financial Management Professionals Inc. purchased a new position in shares of Kinross Gold during the 4th quarter valued at about $26,000. Virtus Advisers LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at about $28,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after buying an additional 589 shares in the last quarter. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

KGC opened at $25.24 on Wednesday. The stock’s 50 day simple moving average is $30.57 and its 200 day simple moving average is $30.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. Kinross Gold Corporation has a 1 year low of $14.71 and a 1 year high of $39.11. The firm has a market cap of $30.10 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.91 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings results on Wednesday, April 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $0.30 EPS. Kinross Gold’s revenue for the quarter was up 60.8% compared to the same quarter last year. As a group, analysts predict that Kinross Gold Corporation will post 2.91 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.6%. The ex-dividend date was Thursday, May 21st. Kinross Gold’s dividend payout ratio (DPR) is presently 6.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KGC. Royal Bank Of Canada raised Kinross Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $36.00 to $45.00 in a report on Thursday, March 12th. Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. UBS Group decreased their price objective on Kinross Gold from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, March 27th. Weiss Ratings cut Kinross Gold from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.81.

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.