Kinross Gold Co. (NYSE:KGC) Shares Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management boosted its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,258 shares of the mining company’s stock after purchasing an additional 11,858 shares during the quarter. Ritholtz Wealth Management’s holdings in Kinross Gold were worth $493,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in shares of Kinross Gold in the 2nd quarter valued at about $40,000. Fifth Third Bancorp grew its holdings in shares of Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after purchasing an additional 9,375 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Kinross Gold during the 1st quarter worth approximately $60,000. Sivia Capital Partners LLC bought a new stake in shares of Kinross Gold in the 4th quarter worth approximately $63,000. Finally, Blue Trust Inc. boosted its position in Kinross Gold by 113.1% during the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after purchasing an additional 6,011 shares during the period. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Trading Down 0.3 %

Shares of NYSE:KGC opened at $8.58 on Thursday. The company has a 50 day moving average of $8.80 and a 200-day moving average of $7.39. 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 firm has a market cap of $10.54 billion, a P/E ratio of 23.82, a P/E/G ratio of 0.52 and a beta of 1.19. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $9.58.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that Kinross Gold Co. will post 0.58 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Thursday, August 22nd. Kinross Gold’s payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KGC. Cormark raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Thursday, May 9th. Jefferies Financial Group increased their price objective on shares of Kinross Gold from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, July 12th. BMO Capital Markets boosted their target price on shares of Kinross Gold from $10.00 to $11.50 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. CIBC upped their target price on shares of Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Scotiabank lifted their price target on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

About Kinross Gold

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.