Ritholtz Wealth Management Acquires 15,563 Shares of Kinross Gold Corporation $KGC

Key Points

• Ritholtz Wealth Management increased its stake in Kinross Gold Corporation by 7.3%, acquiring an additional 15,563 shares during the second quarter, bringing its total holdings to 229,864 shares valued at approximately $3.59 million.
• Kinross Gold reported quarterly earnings of $0.44 per share, surpassing estimates of $0.33, with revenue reaching $1.75 billion, reflecting a **41.7% increase** year-over-year.
• The company recently declared a quarterly dividend of $0.03 per share, resulting in a **0.4% dividend yield** for shareholders, with a payout ratio of 9.68%.

Ritholtz Wealth Management boosted its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 7.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 229,864 shares of the mining company's stock after acquiring an additional 15,563 shares during the quarter. Ritholtz Wealth Management's holdings in Kinross Gold were worth $3,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KGC. IFP Advisors Inc grew its holdings in shares of Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company's stock valued at $81,000 after purchasing an additional 835 shares during the last quarter. Cresset Asset Management LLC grew its stake in shares of Kinross Gold by 3.0% during the first 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 during the last quarter. US Bancorp DE grew its stake in shares of Kinross Gold by 2.0% during the second quarter. US Bancorp DE now owns 55,320 shares of the mining company's stock valued at $865,000 after buying an additional 1,103 shares during the last quarter. S.A. Mason LLC grew its stake in shares of Kinross Gold by 6.0% during the first 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 during the last quarter. Finally, OneDigital Investment Advisors LLC grew its stake in shares of Kinross Gold by 12.5% during the first 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 during the last quarter. 63.69% of the stock is currently owned by institutional investors.

Kinross Gold Stock Performance

NYSE:KGC opened at $26.93 on Thursday. The stock has a market cap of $32.65 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 0.81 and a beta of 0.64. The firm's fifty day simple moving average is $22.29 and its 200 day simple moving average is $17.45. Kinross Gold Corporation has a twelve month low of $8.99 and a twelve month high of $27.45. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16.

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

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Thursday, August 21st. Kinross Gold's payout ratio is presently 9.68%.

Analyst Ratings Changes

Several research firms recently issued reports on KGC. Raymond James Financial raised their price target on Kinross Gold from $20.00 to $25.00 and gave the stock a "market perform" rating in a research report on Friday, October 10th. Zacks Research cut shares of Kinross Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Jefferies Financial Group upgraded shares of Kinross Gold from a "hold" rating to a "buy" rating and raised their target price for the stock from $14.00 to $18.00 in a report on Thursday, June 26th. UBS Group raised their price target on shares of Kinross Gold from $20.00 to $27.00 and gave the stock a "buy" rating in a report on Friday, September 19th. Finally, Weiss Ratings reissued a "buy (a-)" rating on shares of Kinross Gold in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $25.19.

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.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.