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

Northwestern Mutual Wealth Management Co. grew its position in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 66.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 139,337 shares of the mining company’s stock after acquiring an additional 55,773 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Kinross Gold were worth $3,924,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Thoroughbred Financial Services LLC raised its position in shares of Kinross Gold by 7.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 19,126 shares of the mining company’s stock worth $538,000 after acquiring an additional 1,260 shares during the period. IPG Investment Advisors LLC raised its position in shares of Kinross Gold by 5.1% in the fourth quarter. IPG Investment Advisors LLC now owns 18,532 shares of the mining company’s stock worth $522,000 after acquiring an additional 907 shares during the period. Arista Wealth Management LLC acquired a new position in shares of Kinross Gold in the fourth quarter worth about $282,000. Geode Capital Management LLC raised its position in shares of Kinross Gold by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 12,987,140 shares of the mining company’s stock worth $383,694,000 after acquiring an additional 701,650 shares during the period. Finally, Themes Management Co LLC acquired a new position in shares of Kinross Gold in the fourth quarter worth about $1,285,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Ratings Changes

KGC has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 24th. TD Securities decreased their price objective on shares of Kinross Gold from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Freedom Capital upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. 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 research report on Thursday, March 12th. Finally, ATB Cormark Capital Markets upgraded shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.81.

Kinross Gold Stock Up 1.5%

KGC stock opened at $28.60 on Friday. The stock has a market capitalization 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. The firm has a 50-day simple moving average of $30.73 and a 200-day simple moving average of $30.94. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08. Kinross Gold Corporation has a 52 week low of $14.71 and a 52 week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, April 29th. The mining company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Kinross Gold had a net margin of 35.99% and a return on equity of 32.47%. The company’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. Equities analysts forecast that Kinross Gold Corporation will post 2.91 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

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

Kinross Gold 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.