Envestnet Asset Management Inc. Purchases 99,812 Shares of Kinross Gold Co. (NYSE:KGC)

Envestnet Asset Management Inc. lifted its stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 60.2% during the second quarter, HoldingsChannel reports. The firm owned 265,650 shares of the mining company’s stock after purchasing an additional 99,812 shares during the period. Envestnet Asset Management Inc.’s holdings in Kinross Gold were worth $2,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of Kinross Gold by 9.5% during the 1st quarter. Van ECK Associates Corp now owns 150,960,083 shares of the mining company’s stock worth $925,392,000 after purchasing an additional 13,099,791 shares during the last quarter. Artemis Investment Management LLP increased its stake in shares of Kinross Gold by 321.5% in the second quarter. Artemis Investment Management LLP now owns 6,695,496 shares of the mining company’s stock worth $55,707,000 after acquiring an additional 5,107,120 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of Kinross Gold during the first quarter worth $23,907,000. National Bank of Canada FI lifted its position in Kinross Gold by 31.2% during the second quarter. National Bank of Canada FI now owns 9,542,209 shares of the mining company’s stock valued at $78,946,000 after purchasing an additional 2,267,999 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Kinross Gold by 64.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,749,480 shares of the mining company’s stock valued at $29,115,000 after purchasing an additional 1,856,478 shares during the last quarter. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $9.42 on Friday. The business’s fifty day simple moving average is $9.10 and its 200-day simple moving average is $8.03. The company has a quick ratio of 0.52, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.58 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 0.55 and a beta of 1.24. Kinross Gold Co. has a 52 week low of $4.35 and a 52 week high of $10.10.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Wednesday, July 31st. The mining company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Kinross Gold had a return on equity of 9.32% and a net margin of 10.91%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Kinross Gold Co. will post 0.6 earnings per share for the current year.

Kinross Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.27%. Kinross Gold’s payout ratio is 33.33%.

Analysts Set New Price Targets

Several research firms have commented on KGC. Jefferies Financial Group upped their price objective on Kinross Gold from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Friday. CIBC boosted their price target on Kinross Gold from $8.15 to $12.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. StockNews.com lowered shares of Kinross Gold from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th. Finally, Scotiabank boosted their price objective on Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Kinross Gold Profile

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.