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

DORCHESTER WEALTH MANAGEMENT Co reduced its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $780,000. Corundum Trust Company INC bought a new stake in shares of Kinross Gold during the third quarter worth $94,000. Private Advisor Group LLC lifted its position in Kinross Gold by 8.7% in the 3rd quarter. Private Advisor Group LLC now owns 12,238 shares of the mining company’s stock valued at $115,000 after acquiring an additional 981 shares in the last quarter. U S Global Investors Inc. boosted its stake in Kinross Gold by 270.9% in the 3rd quarter. U S Global Investors Inc. now owns 537,868 shares of the mining company’s stock worth $5,034,000 after purchasing an additional 392,868 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Kinross Gold by 634.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,942,042 shares of the mining company’s stock valued at $36,971,000 after purchasing an additional 3,405,478 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on KGC. 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 price target on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on shares of Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Finally, Scotiabank lifted their price target on shares of Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kinross Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Kinross Gold Stock Performance

Shares of Kinross Gold stock traded down $0.11 during trading on Thursday, hitting $10.60. 4,575,836 shares of the stock were exchanged, compared to its average volume of 15,170,756. The company has a current ratio of 1.27, a quick ratio of 0.52 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $9.44 and a 200-day moving average price of $8.40. The stock has a market capitalization of $13.03 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 0.58 and a beta of 1.24. Kinross Gold Co. has a 1-year low of $4.75 and a 1-year high of $10.82.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. As a group, equities analysts predict that Kinross Gold Co. will post 0.63 EPS for the current fiscal year.

Kinross Gold Announces Dividend

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

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.