Toronto Dominion Bank grew its stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 27.5% during the first quarter, HoldingsChannel reports. The firm owned 7,043,462 shares of the mining company’s stock after buying an additional 1,520,457 shares during the period. Toronto Dominion Bank’s holdings in Kinross Gold were worth $24,238,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of KGC. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 115.5% during the fourth quarter. Van ECK Associates Corp now owns 186,875,671 shares of the mining company’s stock worth $605,477,000 after purchasing an additional 100,146,473 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Kinross Gold by 280.0% in the third quarter. JPMorgan Chase & Co. now owns 33,706,930 shares of the mining company’s stock worth $91,009,000 after acquiring an additional 24,835,671 shares in the last quarter. Norges Bank acquired a new position in shares of Kinross Gold in the fourth quarter worth about $47,922,000. Ruffer LLP lifted its stake in shares of Kinross Gold by 25.1% in the fourth quarter. Ruffer LLP now owns 68,448,734 shares of the mining company’s stock worth $215,212,000 after acquiring an additional 13,729,045 shares in the last quarter. Finally, Contrarius Investment Management Ltd lifted its stake in shares of Kinross Gold by 88.7% in the fourth quarter. Contrarius Investment Management Ltd now owns 12,490,012 shares of the mining company’s stock worth $40,468,000 after acquiring an additional 5,871,061 shares in the last quarter. Institutional investors own 61.22% of the company’s stock.
NYSE:KGC opened at $3.13 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.12 and a current ratio of 3.02. Kinross Gold Co. has a one year low of $2.38 and a one year high of $3.98. The stock has a market capitalization of $3.96 billion, a P/E ratio of 31.30 and a beta of -0.14.
Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.06. The firm had revenue of $786.20 million during the quarter, compared to analyst estimates of $800.70 million. Kinross Gold had a positive return on equity of 1.88% and a negative net margin of 2.10%. Kinross Gold’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, equities research analysts predict that Kinross Gold Co. will post 0.12 earnings per share for the current year.
Several research firms recently commented on KGC. Zacks Investment Research upgraded Kinross Gold from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Tuesday, April 23rd. Raymond James reiterated an “outperform” rating and issued a $4.50 price target on shares of Kinross Gold in a research note on Thursday, February 14th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $3.00 price target on shares of Kinross Gold in a research note on Thursday, February 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3.95.
TRADEMARK VIOLATION WARNING: This report was first posted by Zolmax and is the property of of Zolmax. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://zolmax.com/investing/toronto-dominion-bank-buys-1520457-shares-of-kinross-gold-co-kgc/3084693.html.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the reclamation of gold mining properties; and production and sale of silver.
Recommended Story: What do investors mean by earnings per share?
Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Co. (NYSE:KGC) (TSE:K).
Receive News & Ratings for Kinross Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinross Gold and related companies with MarketBeat.com's FREE daily email newsletter.