Kinross Gold Corporation $KGC Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management increased its Kinross Gold stake by 25.3% in the second quarter, bringing its holdings to 225,861 shares valued at approximately $5.34 million. Institutional investors and hedge funds collectively own 63.69% of the company.
• Analysts maintain a generally positive outlook, with Kinross receiving a consensus “Moderate Buy” rating and an average price target of $38.43, despite several recent target-price reductions.
• Kinross reported quarterly earnings of $0.71 per share, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also paid a quarterly dividend of $0.04 per share, equivalent to a 0.5% annual yield.

Northwestern Mutual Wealth Management Co. grew its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 25.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,861 shares of the mining company's stock after acquiring an additional 45,675 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Kinross Gold were worth $5,335,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtus Advisers LLC acquired a new stake in Kinross Gold in the 3rd quarter valued at $28,000. Ascentis Independent Advisors acquired a new position in shares of Kinross Gold during the first quarter worth about $29,000. Caitlin John LLC boosted its position in shares of Kinross Gold by 42.1% in the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock worth $32,000 after buying an additional 400 shares during the period. Harvest Fund Management Co. Ltd boosted its position in shares of Kinross Gold by 85.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company's stock worth $32,000 after buying an additional 589 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Kinross Gold in the third quarter valued at about $38,000. Institutional investors and hedge funds own 63.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KGC shares. ATB Cormark Capital Markets upgraded Kinross Gold from a "hold" rating to a "moderate buy" rating in a report on Friday, July 31st. Scotiabank decreased their price target on Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 14th. UBS Group lowered their price objective on shares of Kinross Gold from $38.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of Kinross Gold from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Jefferies Financial Group reduced their target price on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.43.

Kinross Gold Stock Up 4.5%

Shares of NYSE KGC opened at $31.63 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.95 and a current ratio of 2.89. Kinross Gold Corporation has a 1 year low of $21.49 and a 1 year high of $39.11. The stock's 50-day simple moving average is $26.25 and its 200-day simple moving average is $29.00. The firm has a market cap of $37.47 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.82 and a beta of 0.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the firm earned $0.44 EPS. Kinross Gold's quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities analysts anticipate that Kinross Gold Corporation will post 2.61 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. Kinross Gold's dividend payout ratio (DPR) is presently 6.06%.

Kinross Gold Company Profile

Kinross Gold Corporation NYSE: KGC is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company's activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.

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