Freedom Investment Management Inc. Has $559,000 Holdings in Kinross Gold Corporation $KGC

Freedom Investment Management Inc. lessened its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 23.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,780 shares of the mining company’s stock after selling 11,094 shares during the period. Freedom Investment Management Inc.’s holdings in Kinross Gold were worth $559,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Kinross Gold in the 1st quarter worth about $55,000. IFP Advisors Inc increased its stake in Kinross Gold by 19.1% in the 2nd quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after buying an additional 835 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Kinross Gold in the 1st quarter valued at about $77,000. SBI Securities Co. Ltd. increased its stake in Kinross Gold by 39.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after buying an additional 1,787 shares during the last quarter. Finally, Wealth Preservation Advisors LLC purchased a new stake in Kinross Gold in the 1st quarter valued at about $84,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Analyst Upgrades and Downgrades

KGC has been the subject of several analyst reports. Raymond James Financial increased their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. UBS Group increased 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. CIBC increased their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Kinross Gold in a research note on Thursday. Finally, Canaccord Genuity Group increased their price objective on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.56.

Kinross Gold Trading Up 0.1%

Shares of KGC stock opened at $23.95 on Friday. The company has a 50 day moving average of $23.07 and a 200-day moving average of $18.09. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. Kinross Gold Corporation has a 12-month low of $8.99 and a 12-month high of $27.84. The firm has a market cap of $28.97 billion, a P/E ratio of 19.31, a PEG ratio of 0.47 and a beta of 0.64.

Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings results on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $0.14 EPS. Kinross Gold’s quarterly revenue was up 41.7% compared to the same quarter last year. Sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Kinross Gold’s dividend payout ratio (DPR) is presently 9.68%.

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.