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

Several other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold in the 1st quarter valued at approximately $55,000. Farther Finance Advisors LLC boosted its holdings in Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after purchasing an additional 3,659 shares during the period. Headlands Technologies LLC bought a new stake in Kinross Gold during the first quarter valued at $77,000. Bruce G. Allen Investments LLC raised its holdings in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after purchasing an additional 2,561 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in shares of Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after purchasing an additional 1,787 shares during the period. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

KGC has been the subject of several research reports. CIBC lifted their price target on shares of Kinross Gold from $21.00 to $22.00 and gave the company an "outperformer" rating in a report on Friday, August 1st. Raymond James Financial raised Kinross Gold to a "hold" rating and set a $15.00 target price for the company in a report on Monday, June 30th. Royal Bank Of Canada raised their price target on Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Canaccord Genuity Group boosted their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Zacks Research downgraded Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.07.

Kinross Gold Stock Performance

KGC opened at $22.96 on Thursday. The business's 50 day moving average is $18.15 and its 200-day moving average is $15.25. The stock has a market cap of $27.90 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 0.74 and a beta of 0.62. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a twelve month low of $8.89 and a twelve month high of $22.99.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The business's revenue for the quarter was up 41.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. On average, analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's dividend payout ratio (DPR) is 9.68%.

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.

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