Cerity Partners LLC Grows Stock Position in Kinross Gold Co. (NYSE:KGC)

Cerity Partners LLC lifted its holdings in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 11.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,628 shares of the mining company’s stock after purchasing an additional 8,993 shares during the period. Cerity Partners LLC’s holdings in Kinross Gold were worth $792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KGC. Atlas Capital Advisors LLC purchased a new position in Kinross Gold during the second quarter worth approximately $40,000. Fifth Third Bancorp increased its stake in Kinross Gold by 3,524.4% during the 2nd quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock worth $80,000 after buying an additional 9,375 shares during the period. Blue Trust Inc. lifted its holdings in Kinross Gold by 113.1% in the 2nd quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock worth $94,000 after buying an additional 6,011 shares in the last quarter. Corundum Trust Company INC acquired a new position in Kinross Gold in the 3rd quarter worth $94,000. Finally, OneDigital Investment Advisors LLC purchased a new position in Kinross Gold in the 3rd quarter valued at about $94,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on KGC shares. Scotiabank boosted their price target on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a report on Friday, October 4th. Finally, StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Kinross Gold Stock Performance

KGC stock opened at $9.91 on Friday. Kinross Gold Co. has a fifty-two week low of $4.75 and a fifty-two week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $12.18 billion, a P/E ratio of 16.25, a PEG ratio of 0.44 and a beta of 1.21. The company has a 50-day simple moving average of $9.94 and a 200 day simple moving average of $9.06.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. Sell-side analysts predict that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.21%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s payout ratio is 19.67%.

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.