Kingsview Wealth Management LLC Buys 12,058 Shares of Kinross Gold Co. (NYSE:KGC)

Kingsview Wealth Management LLC grew its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 93.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,945 shares of the mining company’s stock after acquiring an additional 12,058 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Kinross Gold were worth $233,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new position in Kinross Gold in the second quarter worth about $40,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold during the 1st quarter worth approximately $70,000. Fifth Third Bancorp lifted its position in Kinross Gold by 3,524.4% during the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after acquiring an additional 9,375 shares during the last quarter. Blue Trust Inc. boosted its stake in Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after acquiring an additional 6,011 shares in the last quarter. Finally, Corundum Trust Company INC purchased a new position in Kinross Gold in the third quarter worth $94,000. 63.69% of the stock is owned by institutional investors.

Kinross Gold Trading Down 0.9 %

Kinross Gold stock opened at $9.71 on Friday. The stock has a 50-day moving average price of $9.93 and a 200 day moving average price of $9.00. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22. Kinross Gold Co. has a 52 week low of $4.75 and a 52 week high of $10.82. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings data on Tuesday, November 5th. The mining company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. Sell-side analysts anticipate that Kinross Gold Co. will post 0.7 EPS for the current year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 28th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, November 27th. Kinross Gold’s dividend payout ratio is currently 19.67%.

Analyst Ratings Changes

KGC has been the subject of several analyst reports. Scotiabank increased their price objective on Kinross Gold from $9.50 to $11.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 9th. Finally, Jefferies Financial Group boosted their price target on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Kinross Gold currently has an average rating of “Buy” and a consensus target price of $11.13.

About Kinross Gold

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.