Baird Financial Group Inc. Purchases Shares of 42,140 Kinross Gold Corporation $KGC

Key Points

• Baird Financial Group purchased 42,140 shares of Kinross Gold worth approximately $995,000, while institutional investors collectively own 63.69% of the company.
• Kinross Gold reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion.
• Shares recently traded at $28.06, down 1.5%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $38.43, and the company pays a quarterly dividend of $0.04.

Baird Financial Group Inc. purchased a new stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 42,140 shares of the mining company's stock, valued at approximately $995,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Continuum Advisory LLC acquired a new position in Kinross Gold in the second quarter valued at approximately $26,000. Ascentis Independent Advisors acquired a new position in Kinross Gold in the 1st quarter worth $29,000. Caitlin John LLC boosted its stake in Kinross Gold by 42.1% in the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after purchasing an additional 400 shares during the period. Manchester Capital Management LLC bought a new position in Kinross Gold during the 4th quarter worth about $40,000. Finally, Geneos Wealth Management Inc. increased its holdings in Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock worth $41,000 after purchasing an additional 605 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 1.5%

Shares of KGC stock opened at $28.06 on Friday. The company has a current ratio of 2.89, a quick ratio of 1.95 and a debt-to-equity ratio of 0.08. The stock has a market cap of $33.24 billion, a P/E ratio of 10.63, a price-to-earnings-growth ratio of 0.68 and a beta of 0.84. The stock has a 50 day simple moving average of $27.37 and a 200 day simple moving average of $28.58. Kinross Gold Corporation has a 1 year low of $22.01 and a 1 year high of $39.11.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company posted $0.44 earnings per share. The business's revenue for the quarter was up 29.5% on a year-over-year basis. On average, research analysts predict that Kinross Gold Corporation will post 2.56 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, August 20th. Kinross Gold's payout ratio is 6.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KGC shares. Jefferies Financial Group cut their price target on Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Zacks Research raised shares of Kinross Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Wall Street Zen downgraded shares of Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Scotiabank cut their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Kinross Gold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.43.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company's operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.

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