Northwestern Mutual Wealth Management Co. Has $7.61 Million Position in Kinross Gold Corporation $KGC

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 223.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,052 shares of the mining company’s stock after acquiring an additional 186,488 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Kinross Gold were worth $7,605,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Financial Management Professionals Inc. acquired a new position in shares of Kinross Gold during the 4th quarter worth approximately $26,000. Caitlin John LLC acquired a new position in shares of Kinross Gold during the 3rd quarter worth approximately $26,000. Virtus Advisers LLC acquired a new position in Kinross Gold in the 3rd quarter valued at $28,000. Finally, GPS Wealth Strategies Group LLC acquired a new position in Kinross Gold in the 3rd quarter valued at $29,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on KGC shares. Weiss Ratings lowered Kinross Gold from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday. Canadian Imperial Bank of Commerce set a $54.00 price objective on Kinross Gold in a report on Wednesday, February 4th. TD Securities decreased their price objective on Kinross Gold from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Scotiabank upped their price objective on Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Finally, Freedom Capital raised Kinross Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. One equities 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.81.

Kinross Gold Stock Performance

Shares of NYSE KGC opened at $28.27 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.84 and a quick ratio of 1.83. The stock’s fifty day moving average price is $30.80 and its two-hundred day moving average price is $30.62. Kinross Gold Corporation has a one year low of $14.35 and a one year high of $39.11. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.03 and a beta of 0.73.

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, beating analysts’ consensus estimates 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 return on equity of 32.47% and a net margin of 35.99%.The company’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. On average, equities analysts forecast that Kinross Gold Corporation will post 2.92 EPS for the current year.

Kinross Gold Announces Dividend

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