101,550 Shares in Kinross Gold Corporation $KGC Bought by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors bought 101,550 Kinross Gold shares worth approximately $2.45 million during the third quarter. Institutional investors collectively own 63.69% of the company.
• Kinross Gold reported quarterly EPS of $0.71, beating estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also pays a quarterly dividend of $0.04, yielding about 0.7% annually.
• Analysts maintain a broadly positive view, with the stock carrying a consensus “Moderate Buy” rating and a $37.11 average price target, despite several recent target reductions.

Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 101,550 shares of the mining company's stock, valued at approximately $2,445,000.

Several other hedge funds have also recently made changes to their positions in the business. Caitlin John LLC raised its holdings in shares of Kinross Gold by 42.1% during the second quarter. Caitlin John LLC now owns 1,350 shares of the mining company's stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. boosted its holdings in Kinross Gold by 0.4% in the second quarter. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. now owns 141,100 shares of the mining company's stock valued at $3,329,000 after acquiring an additional 500 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Kinross Gold by 80.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,355 shares of the mining company's stock valued at $41,000 after purchasing an additional 605 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Kinross Gold by 6.8% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,137 shares of the mining company's stock valued at $309,000 after purchasing an additional 645 shares during the period. Finally, Baron Wealth Management LLC increased its position in Kinross Gold by 3.1% during the 2nd quarter. Baron Wealth Management LLC now owns 21,941 shares of the mining company's stock valued at $518,000 after purchasing an additional 653 shares during the period. 63.69% of the stock is owned by hedge funds and other institutional investors.

Kinross Gold Price Performance

Shares of NYSE:KGC opened at $23.79 on Thursday. Kinross Gold Corporation has a 1-year low of $21.90 and a 1-year high of $39.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. The business has a fifty day moving average price of $27.37 and a 200-day moving average price of $27.52. The company has a market capitalization of $28.11 billion, a PE ratio of 9.01, a PEG ratio of 0.78 and a beta of 0.82.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its quarterly earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Kinross Gold had a return on equity of 34.00% and a net margin of 37.52%. Kinross Gold's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, equities analysts expect that Kinross Gold Corporation will post 2.41 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.16 annualized dividend and a yield of 0.7%. Kinross Gold's payout ratio is 6.06%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $34.00 price objective on shares of Kinross Gold in a report on Friday, October 16th. UBS Group reduced their price target on shares of Kinross Gold from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Scotia decreased their price target on shares of Kinross Gold from $41.00 to $39.00 and set a "sector outperform" rating for the company in a research note on Thursday, September 24th. Canaccord Genuity Group lowered their price objective on shares of Kinross Gold from $52.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, September 24th. Finally, TD Securities lowered their price objective on shares of Kinross Gold from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.11.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company headquartered in Toronto, Ontario. Founded in 1993, the company explores for, develops and operates gold mines, with silver produced as a byproduct at some operations.

Kinross's producing assets have included mines in the United States, Brazil, Chile and Mauritania. Its operations have included Fort Knox in Alaska, Round Mountain and Bald Mountain in Nevada, Paracatu in Brazil, La Coipa in Chile and Tasiast in Mauritania. The company also pursues exploration and development projects intended to support future production.

Kinross sells the gold it produces to customers in international bullion markets and manages activities spanning mine development, extraction, processing and reclamation.

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