Northwestern Mutual Wealth Management Co. Increases Position in Kinross Gold Corporation $KGC

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 66.7% in the 4th quarter, Holdings Channel reports. The fund owned 139,337 shares of the mining company’s stock after acquiring an additional 55,773 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Kinross Gold were worth $3,924,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KGC. Van ECK Associates Corp grew its stake in Kinross Gold by 7.8% during the 3rd quarter. Van ECK Associates Corp now owns 107,960,623 shares of the mining company’s stock valued at $2,682,791,000 after acquiring an additional 7,825,336 shares in the last quarter. Man Group plc grew its stake in Kinross Gold by 47.8% during the 2nd quarter. Man Group plc now owns 16,739,969 shares of the mining company’s stock valued at $261,646,000 after acquiring an additional 5,411,491 shares in the last quarter. Bank of America Corp DE grew its stake in Kinross Gold by 81.2% during the 2nd quarter. Bank of America Corp DE now owns 8,073,665 shares of the mining company’s stock valued at $126,191,000 after acquiring an additional 3,617,320 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Kinross Gold during the 3rd quarter valued at about $80,299,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Kinross Gold during the 3rd quarter valued at about $74,996,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KGC. Freedom Capital raised shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. Weiss Ratings lowered shares of Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, May 20th. TD Securities decreased their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada upgraded shares of Kinross Gold from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $36.00 to $45.00 in a report on Thursday, March 12th. Finally, Wall Street Zen lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

Shares of KGC stock opened at $28.60 on Friday. The firm’s 50 day moving average price is $30.73 and its 200-day moving average price is $30.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.83 and a current ratio of 2.84. Kinross Gold Corporation has a one year low of $14.71 and a one year high of $39.11. The firm has a market cap of $34.11 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.00 and a beta of 0.71.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. As a group, equities research analysts predict that Kinross Gold Corporation will post 2.91 EPS for the current year.

Kinross Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. Kinross Gold’s dividend payout ratio is 6.78%.

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.