Arete Wealth Advisors LLC Makes New Investment in Kinross Gold Corporation $KGC

Key Points

• Arete Wealth Advisors LLC has acquired a new position in Kinross Gold Corporation by purchasing 31,166 shares valued at approximately $393,000 during the first quarter.
• Kinross Gold's stock has been rated with an average rating of "Moderate Buy", with several price target increases from analysts, the highest being $29.50 from Canaccord Genuity Group.
• The company recently reported $0.44 earnings per share for the quarter, exceeding analysts' expectations and showing a substantial revenue increase of 41.7% year-over-year.

Arete Wealth Advisors LLC purchased a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 31,166 shares of the mining company's stock, valued at approximately $393,000.

A number of other institutional investors have also recently modified their holdings of the stock. Caxton Associates LLP bought a new stake in shares of Kinross Gold during the 1st quarter valued at $158,000. Goldman Sachs Group Inc. raised its stake in Kinross Gold by 95.7% during the first quarter. Goldman Sachs Group Inc. now owns 6,949,976 shares of the mining company's stock worth $87,639,000 after buying an additional 3,398,687 shares during the last quarter. K2 Principal Fund L.P. bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $416,000. Edmond DE Rothschild Holding S.A. boosted its holdings in shares of Kinross Gold by 21.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 322,862 shares of the mining company's stock worth $4,076,000 after buying an additional 57,966 shares in the last quarter. Finally, Banque Transatlantique SA increased its position in Kinross Gold by 1,708,800.0% in the 1st quarter. Banque Transatlantique SA now owns 17,089 shares of the mining company's stock valued at $199,000 after buying an additional 17,088 shares in the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Price Performance

NYSE:KGC traded down $0.52 on Tuesday, reaching $22.75. 3,161,210 shares of the company's stock traded hands, compared to its average volume of 20,323,736. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $18.59 and a 200-day simple moving average of $15.57. The firm has a market cap of $27.64 billion, a PE ratio of 18.35, a P/E/G ratio of 0.77 and a beta of 0.61. Kinross Gold Corporation has a 12 month low of $8.99 and a 12 month high of $23.65.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business's quarterly revenue was up 41.7% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Equities research analysts forecast that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on KGC shares. CIBC raised their price objective on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their price objective for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group began coverage on shares of Kinross Gold in a research note on Monday, August 4th. They issued a "buy" rating and a $20.00 price objective for the company. Royal Bank Of Canada boosted their target price on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group lifted their price target on Kinross Gold from $28.00 to $29.50 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.07.

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.