Cadence Wealth Management LLC Increases Stake in Kinross Gold Co. (NYSE:KGC)

Cadence Wealth Management LLC boosted its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 6.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 100,959 shares of the mining company’s stock after purchasing an additional 6,415 shares during the quarter. Kinross Gold comprises about 0.5% of Cadence Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Cadence Wealth Management LLC’s holdings in Kinross Gold were worth $611,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Kinross Gold by 1.1% in the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after buying an additional 463,035 shares during the last quarter. Boston Partners raised its stake in Kinross Gold by 96.1% during the 3rd quarter. Boston Partners now owns 11,736,328 shares of the mining company’s stock worth $53,518,000 after acquiring an additional 5,752,397 shares during the period. Mackenzie Financial Corp raised its stake in Kinross Gold by 13.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,593,655 shares of the mining company’s stock worth $64,151,000 after acquiring an additional 1,239,966 shares during the period. American Century Companies Inc. raised its stake in Kinross Gold by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 8,046,094 shares of the mining company’s stock worth $36,680,000 after acquiring an additional 1,603,951 shares during the period. Finally, Gabelli Funds LLC raised its stake in Kinross Gold by 14.3% during the 3rd quarter. Gabelli Funds LLC now owns 4,965,900 shares of the mining company’s stock worth $22,645,000 after acquiring an additional 622,000 shares during the period. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Up 0.1 %

KGC traded up $0.01 on Friday, hitting $6.74. 14,737,335 shares of the company were exchanged, compared to its average volume of 18,082,304. The firm has a 50-day moving average price of $5.83 and a two-hundred day moving average price of $5.65. The company has a current ratio of 2.63, a quick ratio of 0.95 and a debt-to-equity ratio of 0.36. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. Kinross Gold Co. has a twelve month low of $4.32 and a twelve month high of $6.87.

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

Kinross Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued 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 35.29%.

Wall Street Analysts Forecast Growth

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

About Kinross Gold

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.