Kinross Gold Corporation $KGC Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC decreased its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 41.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,850 shares of the mining company’s stock after selling 13,900 shares during the period. Cardinal Point Capital Management ULC’s holdings in Kinross Gold were worth $310,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. IFP Advisors Inc lifted its position in Kinross Gold by 19.1% in the second quarter. IFP Advisors Inc now owns 5,210 shares of the mining company’s stock valued at $81,000 after purchasing an additional 835 shares during the period. Cresset Asset Management LLC lifted its position in Kinross Gold by 3.0% in the first quarter. Cresset Asset Management LLC now owns 34,714 shares of the mining company’s stock valued at $438,000 after purchasing an additional 1,013 shares during the period. US Bancorp DE lifted its position in Kinross Gold by 2.0% in the second quarter. US Bancorp DE now owns 55,320 shares of the mining company’s stock valued at $865,000 after purchasing an additional 1,103 shares during the period. OneDigital Investment Advisors LLC increased its holdings in Kinross Gold by 12.5% in the first quarter. OneDigital Investment Advisors LLC now owns 11,273 shares of the mining company’s stock valued at $142,000 after buying an additional 1,250 shares in the last quarter. Finally, Caliber Wealth Management LLC KS increased its holdings in Kinross Gold by 6.7% in the second quarter. Caliber Wealth Management LLC KS now owns 19,950 shares of the mining company’s stock valued at $312,000 after buying an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Shares of Kinross Gold stock opened at $23.95 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.45 and a current ratio of 2.84. Kinross Gold Corporation has a 1 year low of $8.99 and a 1 year high of $27.84. The firm’s 50-day simple moving average is $23.07 and its 200-day simple moving average is $18.05. The firm has a market cap 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.

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

Kinross Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. 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 9.68%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Kinross Gold in a report on Wednesday, October 8th. Wall Street Zen raised shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Raymond James Financial increased their target price on shares of Kinross Gold from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, October 10th. TD Securities increased their target price on shares of Kinross Gold from $22.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, CIBC raised their price objective on shares of Kinross Gold from $22.00 to $36.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Four investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.