DORCHESTER WEALTH MANAGEMENT Co Sells 3,700 Shares of Kinross Gold Co. (NYSE:KGC)

DORCHESTER WEALTH MANAGEMENT Co lessened its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.8% during the third quarter, HoldingsChannel.com reports. The firm owned 50,950 shares of the mining company’s stock after selling 3,700 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Kinross Gold were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after acquiring an additional 13,099,791 shares during the period. Vanguard Group Inc. raised its position in Kinross Gold by 1.1% during the first quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after purchasing an additional 497,531 shares in the last quarter. Boston Partners boosted its holdings in shares of Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock valued at $111,730,000 after purchasing an additional 1,328,372 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Kinross Gold by 6.2% in the 2nd quarter. Mackenzie Financial Corp now owns 10,959,397 shares of the mining company’s stock valued at $91,255,000 after purchasing an additional 643,013 shares during the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Kinross Gold by 31.2% during the 2nd quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock worth $78,946,000 after buying an additional 2,267,999 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 1.0 %

NYSE KGC traded down $0.11 on Thursday, reaching $10.60. The company had a trading volume of 4,575,836 shares, compared to its average volume of 15,170,756. The business has a 50 day moving average of $9.44 and a two-hundred day moving average of $8.40. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The firm has a market cap of $13.03 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 0.58 and a beta of 1.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.52.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. Analysts forecast that Kinross Gold Co. will post 0.63 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is presently 29.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KGC shares. StockNews.com cut Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. CIBC raised their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank increased their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Kinross Gold has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.