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

Freedom Investment Management Inc. trimmed its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 23.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of KGC. Banque Cantonale Vaudoise bought a new stake in Kinross Gold during the first quarter valued at $55,000. Headlands Technologies LLC bought a new stake in Kinross Gold during the first quarter valued at $77,000. SBI Securities Co. Ltd. boosted its position in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company’s stock valued at $80,000 after acquiring an additional 1,787 shares during the last quarter. IFP Advisors Inc boosted its position in Kinross Gold by 19.1% during the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after acquiring an additional 835 shares during the last quarter. Finally, Wealth Preservation Advisors LLC bought a new stake in Kinross Gold during the first quarter valued at $84,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Price Performance

KGC stock opened at $23.95 on Friday. The stock has a market capitalization of $28.97 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.64. The company’s 50-day moving average is $23.07 and its 200-day moving average is $18.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.84 and a quick ratio of 1.45. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84.

Kinross Gold (NYSE:KGC) (TSE:K) last released its quarterly earnings data on Wednesday, July 30th. The mining company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Kinross Gold had a net margin of 25.18% and a return on equity of 20.04%. The business’s revenue was up 41.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. Equities research analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 21st. Kinross Gold’s dividend payout ratio is currently 9.68%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Canaccord Genuity Group upped their price target on shares of Kinross Gold from $28.00 to $29.50 and gave the company a “buy” rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Kinross Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. 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. Weiss Ratings reiterated a “buy (a-)” rating on shares of Kinross Gold in a research note on Wednesday, October 8th. Finally, Raymond James Financial increased their price objective on shares of Kinross Gold from $20.00 to $25.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $27.56.

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.