Osaic Holdings Inc. Acquires 102,348 Shares of Kinross Gold Corporation $KGC

Osaic Holdings Inc. lifted its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 203.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,755 shares of the mining company’s stock after purchasing an additional 102,348 shares during the period. Osaic Holdings Inc.’s holdings in Kinross Gold were worth $2,388,000 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. Transce3nd LLC increased its position in shares of Kinross Gold by 128.2% during the second quarter. Transce3nd LLC now owns 2,914 shares of the mining company’s stock worth $46,000 after acquiring an additional 1,637 shares during the period. MAI Capital Management increased its holdings in Kinross Gold by 22.0% during the 2nd quarter. MAI Capital Management now owns 5,022 shares of the mining company’s stock worth $78,000 after purchasing an additional 907 shares during the period. IFP Advisors Inc raised its position in Kinross Gold by 19.1% during the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares in the last quarter. Arista Wealth Management LLC bought a new stake in Kinross Gold during the 2nd quarter valued at $156,000. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Kinross Gold by 16.6% in the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 10,031 shares of the mining company’s stock worth $157,000 after buying an additional 1,426 shares during the period. Institutional investors own 63.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KGC. CIBC lifted their price objective on Kinross Gold from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. UBS Group lifted their price objective on shares of Kinross Gold from $31.00 to $33.00 and gave the company a “buy” rating in a report on Monday, December 1st. Scotiabank reissued an “outperform” rating on shares of Kinross Gold in a research note on Thursday, October 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 target price on shares of Kinross Gold in a research report on Sunday, December 7th. Finally, TD Securities lifted their price target on Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $29.81.

Kinross Gold Stock Performance

Shares of KGC opened at $29.73 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a market cap of $35.78 billion, a PE ratio of 20.79, a P/E/G ratio of 0.43 and a beta of 0.74. Kinross Gold Corporation has a 12 month low of $9.04 and a 12 month high of $29.90. The stock has a fifty day moving average price of $26.08 and a 200-day moving average price of $21.81.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its earnings results on Tuesday, November 4th. The mining company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Kinross Gold had a return on equity of 22.25% and a net margin of 27.30%.The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities research analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current fiscal year.

Kinross Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Wednesday, November 26th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, November 26th. This is an increase from Kinross Gold’s previous quarterly dividend of $0.03. Kinross Gold’s payout ratio is 9.79%.

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.