Bright Futures Wealth Management LLC. Purchases Shares of 11,374 Kinross Gold Co. (NYSE:KGC)

Bright Futures Wealth Management LLC. acquired a new stake in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) during the first quarter, HoldingsChannel reports. The fund acquired 11,374 shares of the mining company’s stock, valued at approximately $70,000.

A number of other large investors also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings 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 valued at $925,392,000 after buying an additional 13,099,791 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kinross Gold by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 45,429,935 shares of the mining company’s stock valued at $278,486,000 after buying an additional 497,531 shares in the last quarter. Norges Bank purchased a new position in shares of Kinross Gold during the 4th quarter valued at about $265,327,000. Ruffer LLP raised its holdings in shares of Kinross Gold by 4.6% during the 4th quarter. Ruffer LLP now owns 19,968,341 shares of the mining company’s stock valued at $120,908,000 after buying an additional 877,104 shares in the last quarter. Finally, Boston Partners increased its stake in Kinross Gold by 7.9% in the 1st quarter. Boston Partners now owns 18,226,824 shares of the mining company’s stock worth $111,730,000 after purchasing an additional 1,328,372 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Stock Down 4.4 %

Shares of NYSE KGC traded down $0.40 during mid-day trading on Friday, hitting $8.75. 29,601,298 shares of the stock traded hands, compared to its average volume of 16,883,668. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.45 and a current ratio of 1.27. Kinross Gold Co. has a 52 week low of $4.32 and a 52 week high of $9.44. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 0.52 and a beta of 1.19. The stock has a fifty day moving average price of $8.28 and a 200-day moving average price of $6.83.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings results on Wednesday, July 31st. The mining company reported $0.14 earnings per share 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $0.14 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Research analysts anticipate that Kinross Gold Co. will post 0.57 EPS for the current year.

Kinross Gold Announces Dividend

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

Wall Street Analysts Forecast Growth

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