Bright Futures Wealth Management LLC. Purchases New Shares in Kinross Gold Co. (NYSE:KGC)

Bright Futures Wealth Management LLC. purchased a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 11,374 shares of the mining company’s stock, valued at approximately $70,000.

A number of other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Kinross Gold during the 4th quarter valued at $44,000. Advisor Resource Council bought a new position in shares of Kinross Gold in the 1st quarter worth about $60,000. Sivia Capital Partners LLC bought a new position in shares of Kinross Gold in the 4th quarter worth about $63,000. UniSuper Management Pty Ltd lifted its position in shares of Kinross Gold by 95.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 17,400 shares of the mining company’s stock worth $107,000 after buying an additional 8,500 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new position in shares of Kinross Gold in the 4th quarter worth about $108,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Trading Down 4.4 %

Shares of Kinross Gold stock traded down $0.40 during trading on Friday, hitting $8.75. The stock had a trading volume of 29,601,298 shares, compared to its average volume of 16,883,668. The stock has a 50 day simple moving average of $8.28 and a 200 day simple moving average of $6.83. The company has a market capitalization of $10.75 billion, a PE ratio of 24.31, a P/E/G ratio of 0.52 and a beta of 1.19. The company has a quick ratio of 0.45, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. Kinross Gold Co. has a 1 year low of $4.32 and a 1 year high of $9.44.

Kinross Gold (NYSE:KGC) (TSE:K) last released its earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. Kinross Gold had a net margin of 10.91% and a return on equity of 9.32%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. On average, research analysts expect that Kinross Gold Co. will post 0.57 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, August 22nd. Kinross Gold’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

Several brokerages recently weighed in on KGC. CIBC lifted their price objective on shares of Kinross Gold from $8.15 to $12.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group raised their target price on shares of Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a research note on Thursday, May 9th. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research note on Monday, April 8th. Finally, Scotiabank lifted their price objective on shares of Kinross Gold from $8.00 to $9.50 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.57.

Kinross Gold Company 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.