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

Northwestern Mutual Wealth Management Co. boosted its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 25.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 225,861 shares of the mining company’s stock after buying 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 institutional investors and hedge funds have also recently bought and sold shares of the company. Virtus Advisers LLC bought a new position in Kinross Gold during the 3rd quarter worth approximately $28,000. Ascentis Independent Advisors bought a new stake in shares of Kinross Gold in the 1st quarter valued at approximately $29,000. Caitlin John LLC raised its position in shares of Kinross Gold by 42.1% during the 2nd quarter. Caitlin John LLC now owns 1,350 shares of the mining company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Kinross Gold by 85.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after acquiring an additional 589 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Kinross Gold during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Trading Up 4.5%

NYSE:KGC opened at $31.63 on Friday. The firm has a market capitalization of $37.47 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.82 and a beta of 0.84. The business has a 50 day simple moving average of $26.25 and a 200 day simple moving average of $29.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. Kinross Gold Corporation has a 12-month low of $21.49 and a 12-month high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%.The firm’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Equities research analysts predict that Kinross Gold Corporation will post 2.61 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold’s dividend payout ratio (DPR) is 6.06%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KGC. Wall Street Zen downgraded shares of Kinross Gold from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group dropped their target price on shares of Kinross Gold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Zacks Research downgraded shares of Kinross Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Scotiabank decreased their price target on shares of Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. Finally, Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.43.

About Kinross Gold

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.