Westerkirk Capital Inc. Buys Shares of 63,100 Kinross Gold Corporation $KGC

Westerkirk Capital Inc. acquired a new stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 63,100 shares of the mining company’s stock, valued at approximately $986,000.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in Kinross Gold during the 1st quarter worth approximately $77,000. MAI Capital Management grew its stake in shares of Kinross Gold by 22.0% in the second quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after acquiring an additional 907 shares in the last quarter. IFP Advisors Inc increased its position in shares of Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in shares of Kinross Gold in the first quarter valued at $84,000. Finally, Arista Wealth Management LLC acquired a new stake in shares of Kinross Gold in the second quarter valued at $156,000. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 3.1%

Kinross Gold stock opened at $27.47 on Wednesday. The company has a market capitalization of $33.17 billion, a P/E ratio of 22.16, a PEG ratio of 0.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a fifty-two week low of $8.99 and a fifty-two week high of $28.81. The stock has a 50-day simple moving average of $24.96 and a 200-day simple moving average of $20.18.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.44 EPS for the quarter, topping 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 company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts expect that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. TD Securities upped their price target on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Raymond James Financial lifted their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Cormark cut shares of Kinross Gold from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 29th. Finally, UBS Group lifted their price target on shares of Kinross Gold from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.94.

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.