Cambridge Investment Research Advisors Inc. Invests $67,000 in Kinross Gold Co. (NYSE:KGC)

Cambridge Investment Research Advisors Inc. acquired a new position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,605 shares of the mining company’s stock, valued at approximately $67,000.

Other large investors also recently bought and sold shares of the company. QCM Cayman Ltd. purchased a new position in shares of Kinross Gold during the second quarter worth $192,000. Mid Atlantic Financial Management Inc. ADV raised its holdings in shares of Kinross Gold by 28.5% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 62,984 shares of the mining company’s stock worth $400,000 after purchasing an additional 13,975 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Kinross Gold by 146.0% during the second quarter. BNP Paribas Arbitrage SA now owns 769,231 shares of the mining company’s stock worth $4,515,000 after purchasing an additional 456,568 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Kinross Gold by 3.2% during the second quarter. Van ECK Associates Corp now owns 81,290,925 shares of the mining company’s stock worth $516,195,000 after purchasing an additional 2,500,008 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Kinross Gold by 0.6% during the second quarter. O Shaughnessy Asset Management LLC now owns 344,444 shares of the mining company’s stock worth $2,185,000 after purchasing an additional 2,106 shares during the last quarter. Institutional investors and hedge funds own 44.95% of the company’s stock.

NYSE:KGC opened at $6.01 on Thursday. The company’s 50-day moving average is $5.77 and its two-hundred day moving average is $6.64. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 5.89 and a beta of 0.82. Kinross Gold Co. has a 1-year low of $5.18 and a 1-year high of $9.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.06 and a quick ratio of 1.32.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, July 27th. The mining company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). Kinross Gold had a return on equity of 15.18% and a net margin of 29.97%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities analysts anticipate that Kinross Gold Co. will post 0.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Shareholders of record on Thursday, August 19th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, August 18th. Kinross Gold’s dividend payout ratio is presently 15.58%.

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating for the company in a report on Wednesday, June 23rd. Raymond James cut their price objective on shares of Kinross Gold from $9.00 to $8.50 and set an “outperform” rating for the company in a report on Wednesday. Credit Suisse Group raised shares of Kinross Gold from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $7.50 to $8.00 in a report on Wednesday, June 23rd. National Bank Financial raised shares of Kinross Gold from a “sector perform” rating to an “outperform” rating in a research note on Friday, July 30th. Finally, TD Securities cut their target price on shares of Kinross Gold from $11.50 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, June 23rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $10.56.

About Kinross Gold

Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.

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Institutional Ownership by Quarter for Kinross Gold (NYSE:KGC)

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