Northwestern Mutual Wealth Management Co. Has $717,000 Position in Kinross Gold Corporation $KGC

Key Points

• Northwestern Mutual Wealth Management Co. increased its holdings in Kinross Gold Corporation by 119.1%, acquiring an additional 30,909 shares during the first quarter, bringing its total to 56,868 shares valued at approximately $717,000.
• Kinross Gold reported a quarterly earnings per share of $0.44, exceeding analysts' estimates of $0.33, with revenue reaching $1.75 billion, up 41.7% year-over-year.
• The company has announced a quarterly dividend of $0.03 per share, translating to an annualized yield of 0.6%, with a dividend payout ratio of 9.68%.

Northwestern Mutual Wealth Management Co. raised its stake in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 119.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,868 shares of the mining company's stock after purchasing an additional 30,909 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Kinross Gold were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Capital Investment Advisors LLC boosted its holdings in Kinross Gold by 3.1% in the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock valued at $351,000 after purchasing an additional 850 shares during the period. Cresset Asset Management LLC raised its stake in shares of Kinross Gold by 3.0% in the 1st quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company's stock valued at $438,000 after buying an additional 1,013 shares in the last quarter. S.A. Mason LLC raised its stake in shares of Kinross Gold by 6.0% in the 1st quarter. S.A. Mason LLC now owns 22,250 shares of the mining company's stock valued at $281,000 after buying an additional 1,250 shares in the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of Kinross Gold by 12.5% in the 1st quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company's stock valued at $142,000 after buying an additional 1,250 shares in the last quarter. Finally, R Squared Ltd raised its stake in shares of Kinross Gold by 11.1% in the 1st quarter. R Squared Ltd now owns 17,080 shares of the mining company's stock valued at $215,000 after buying an additional 1,710 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KGC. Royal Bank Of Canada increased their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Scotiabank increased their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 8th. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a research note on Monday. UBS Group initiated coverage on shares of Kinross Gold in a report on Monday, August 4th. They set a "buy" rating and a $20.00 price target for the company. Finally, Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.00 to $18.00 in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.07.

Kinross Gold Trading Up 1.8%

Shares of NYSE:KGC traded up $0.38 during trading on Wednesday, hitting $21.84. 21,262,913 shares of the company's stock were exchanged, compared to its average volume of 16,619,133. Kinross Gold Corporation has a 1-year low of $8.31 and a 1-year high of $21.97. The firm has a 50-day moving average price of $17.46 and a two-hundred day moving average price of $14.87. The company has a current ratio of 2.84, a quick ratio of 1.45 and a debt-to-equity ratio of 0.16. The firm has a market cap of $26.54 billion, a P/E ratio of 17.61, a PEG ratio of 0.69 and a beta of 0.62.

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

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold's payout ratio is currently 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.