OMERS ADMINISTRATION Corp Has $1.77 Million Holdings in Kinross Gold Corporation $KGC

OMERS ADMINISTRATION Corp trimmed its stake in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 18.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,415 shares of the mining company’s stock after selling 25,500 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Kinross Gold were worth $1,769,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Kinross Gold during the first quarter valued at $77,000. MAI Capital Management raised its holdings in Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after purchasing an additional 907 shares during the last quarter. IFP Advisors Inc raised its holdings in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after purchasing an additional 835 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new position in Kinross Gold during the 1st quarter valued at about $84,000. Finally, Arista Wealth Management LLC bought a new position in shares of Kinross Gold in the 2nd quarter valued at about $156,000. Institutional investors own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Cormark downgraded shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Zacks Research raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Canaccord Genuity Group upped their target price on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. CIBC raised their price target on Kinross Gold from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Finally, Wall Street Zen downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday. Four investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.94.

Kinross Gold Stock Down 3.1%

NYSE:KGC opened at $27.47 on Wednesday. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $28.81. The stock has a 50-day moving average price of $24.96 and a two-hundred day moving average price of $20.18. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 0.42 and a beta of 0.74. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $0.24 EPS. Kinross Gold’s quarterly revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.035 per share. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 26th. Kinross Gold’s payout ratio is currently 9.79%.

Kinross Gold Company 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.