Cetera Investment Advisers Has $1.84 Million Stock Position in Kinross Gold Corporation $KGC

Cetera Investment Advisers raised its position in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 59.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 117,629 shares of the mining company’s stock after purchasing an additional 43,650 shares during the quarter. Cetera Investment Advisers’ holdings in Kinross Gold were worth $1,839,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Kinross Gold in the 1st quarter valued at $55,000. Headlands Technologies LLC bought a new stake in Kinross Gold during the first quarter valued at $77,000. IFP Advisors Inc grew its holdings in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock worth $81,000 after acquiring an additional 835 shares during the period. Wealth Preservation Advisors LLC bought a new position in shares of Kinross Gold in the 1st quarter worth about $84,000. Finally, Arista Wealth Management LLC bought a new position in shares of Kinross Gold in the 2nd quarter worth about $156,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Price Performance

Shares of KGC opened at $28.18 on Monday. The business’s fifty day moving average is $24.82 and its 200 day moving average is $19.98. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $28.33. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The stock has a market cap of $34.02 billion, a P/E ratio of 22.73, a P/E/G ratio of 0.42 and a beta of 0.60.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th will be given a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is 9.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KGC shares. Desjardins assumed coverage on Kinross Gold in a research note on Friday. They set a “buy” rating for the company. TD Securities increased their price target on Kinross Gold from $22.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Kinross Gold from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Raymond James Financial increased their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Kinross Gold in a research note on Friday, October 31st. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $27.69.

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.