Arista Wealth Management LLC Invests $156,000 in Kinross Gold Corporation $KGC

Key Points

• Arista Wealth Management LLC has invested approximately $156,000 in Kinross Gold Corporation, acquiring 10,000 shares in the 2nd quarter.
• Kinross Gold reported a 41.7% increase in revenue year-over-year, totaling $1.75 billion, and surpassed earnings expectations with an EPS of $0.44 for the quarter.
• The company declared a quarterly dividend of $0.03 per share, resulting in a 0.5% dividend yield for investors.

Arista Wealth Management LLC bought a new position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the mining company's stock, valued at approximately $156,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after purchasing an additional 3,659 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Kinross Gold by 28.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 100,505 shares of the mining company's stock valued at $1,267,000 after purchasing an additional 22,354 shares in the last quarter. Blue Trust Inc. boosted its holdings in Kinross Gold by 37.0% in the 1st quarter. Blue Trust Inc. now owns 7,811 shares of the mining company's stock valued at $98,000 after purchasing an additional 2,110 shares in the last quarter. Canoe Financial LP boosted its holdings in Kinross Gold by 10.7% in the 1st quarter. Canoe Financial LP now owns 134,085 shares of the mining company's stock valued at $1,690,000 after purchasing an additional 12,974 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Kinross Gold by 18.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 130,730 shares of the mining company's stock valued at $1,649,000 after purchasing an additional 19,987 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company's stock.

Kinross Gold Trading Down 9.0%

Shares of Kinross Gold stock opened at $25.10 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The company has a market capitalization of $30.43 billion, a P/E ratio of 20.24, a P/E/G ratio of 0.88 and a beta of 0.64. The business has a 50 day moving average price of $22.58 and a 200 day moving average price of $17.64.

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 the consensus estimate of $0.33 by $0.11. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company's quarterly revenue was up 41.7% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently disclosed 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. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold's payout ratio is currently 9.68%.

Wall Street Analyst Weigh In

KGC has been the topic of a number of analyst reports. Wall Street Zen raised Kinross Gold from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Canaccord Genuity Group lifted their price objective on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Raymond James Financial lifted their price objective on Kinross Gold from $20.00 to $25.00 and gave the company a "market perform" rating in a report on Friday, October 10th. TD Securities lifted their price target on shares of Kinross Gold from $22.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, UBS Group lifted their price target on shares of Kinross Gold from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $25.69.

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.

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