Northwestern Mutual Wealth Management Co. Boosts Holdings in Kinross Gold Co. (NYSE:KGC)

Northwestern Mutual Wealth Management Co. grew its position in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 18.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,265 shares of the mining company’s stock after acquiring an additional 2,180 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Kinross Gold were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in Kinross Gold by 10.1% in the 1st quarter. Cetera Advisors LLC now owns 19,873 shares of the mining company’s stock worth $122,000 after acquiring an additional 1,828 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Kinross Gold by 3.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 105,372 shares of the mining company’s stock worth $647,000 after acquiring an additional 3,070 shares during the last quarter. Oxbow Advisors LLC increased its position in shares of Kinross Gold by 16.9% during the 2nd quarter. Oxbow Advisors LLC now owns 22,577 shares of the mining company’s stock valued at $188,000 after purchasing an additional 3,262 shares during the last quarter. Pullen Investment Management LLC increased its position in shares of Kinross Gold by 1.9% during the 2nd quarter. Pullen Investment Management LLC now owns 190,973 shares of the mining company’s stock valued at $1,589,000 after purchasing an additional 3,536 shares during the last quarter. Finally, United Services Automobile Association increased its position in shares of Kinross Gold by 8.2% during the 2nd quarter. United Services Automobile Association now owns 51,285 shares of the mining company’s stock valued at $427,000 after purchasing an additional 3,901 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. CIBC boosted their target price on Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com downgraded Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Scotiabank boosted their target price on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group boosted their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Price Performance

KGC opened at $9.82 on Friday. The business has a fifty day moving average of $9.15 and a 200 day moving average of $8.12. Kinross Gold Co. has a 52-week low of $4.75 and a 52-week high of $10.10. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The stock has a market cap of $12.07 billion, a P/E ratio of 23.95, a PEG ratio of 0.52 and a beta of 1.24.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Kinross Gold’s revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kinross Gold Co. will post 0.61 EPS for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Thursday, August 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Thursday, August 22nd. Kinross Gold’s dividend payout ratio is 29.27%.

Kinross Gold Company 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.