Kinross Gold Co. (NYSE:KGC) Stake Boosted by Cadence Wealth Management LLC

Cadence Wealth Management LLC increased its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,959 shares of the mining company’s stock after buying an additional 6,415 shares during the quarter. Kinross Gold comprises 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 16th largest holding. Cadence Wealth Management LLC’s holdings in Kinross Gold were worth $611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in Kinross Gold by 12.3% in the 4th quarter. Russell Investments Group Ltd. now owns 797,251 shares of the mining company’s stock worth $4,844,000 after buying an additional 87,520 shares in the last quarter. Cercano Management LLC acquired a new stake in shares of Kinross Gold during the 4th quarter valued at $2,235,000. Headlands Technologies LLC purchased a new stake in shares of Kinross Gold in the fourth quarter valued at $44,000. Truist Financial Corp lifted its holdings in shares of Kinross Gold by 68.6% in the fourth quarter. Truist Financial Corp now owns 47,457 shares of the mining company’s stock valued at $287,000 after purchasing an additional 19,317 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Kinross Gold by 7.7% in the fourth quarter. Signaturefd LLC now owns 42,585 shares of the mining company’s stock valued at $258,000 after purchasing an additional 3,048 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

KGC has been the topic of several analyst reports. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. CIBC raised their price objective on shares of Kinross Gold from $7.00 to $8.15 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TheStreet lowered shares of Kinross Gold from a “b” rating to a “c+” rating in a report on Friday, February 16th. Jefferies Financial Group raised their price objective on shares of Kinross Gold from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Finally, StockNews.com raised shares of Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.44.

Kinross Gold Trading Up 0.1 %

NYSE KGC traded up $0.01 on Friday, hitting $6.74. The company’s stock had a trading volume of 14,737,335 shares, compared to its average volume of 18,082,304. The company has a quick ratio of 0.95, a current ratio of 2.63 and a debt-to-equity ratio of 0.36. Kinross Gold Co. has a 1-year low of $4.32 and a 1-year high of $6.87. The company’s 50-day moving average is $5.83 and its 200 day moving average is $5.65. The firm has a market cap of $8.28 billion, a PE ratio of 19.82, a PEG ratio of 2.09 and a beta of 1.15.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Thursday, February 15th. The mining company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Kinross Gold had a net margin of 9.82% and a return on equity of 8.85%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Kinross Gold’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that Kinross Gold Co. will post 0.4 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Tuesday, March 5th. Kinross Gold’s dividend payout ratio (DPR) is presently 35.29%.

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.