Cadence Wealth Management LLC Sells 21,986 Shares of Kinross Gold Corporation (NYSE:KGC)

Cadence Wealth Management LLC lessened its holdings in Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 26.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,281 shares of the mining company's stock after selling 21,986 shares during the period. Kinross Gold accounts for approximately 0.6% of Cadence Wealth Management LLC's portfolio, making the stock its 19th largest holding. Cadence Wealth Management LLC's holdings in Kinross Gold were worth $785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mark Sheptoff Financial Planning LLC increased its position in Kinross Gold by 30.4% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 4,302 shares of the mining company's stock worth $40,000 after purchasing an additional 1,002 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Kinross Gold by 188.6% in the first quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock worth $71,000 after acquiring an additional 3,659 shares in the last quarter. Bruce G. Allen Investments LLC increased its position in shares of Kinross Gold by 68.6% in the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock worth $79,000 after acquiring an additional 2,561 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Kinross Gold by 39.3% in the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after acquiring an additional 1,787 shares in the last quarter. Finally, Helium Advisors LLC acquired a new stake in shares of Kinross Gold in the fourth quarter worth $97,000. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Trading Up 1.8%

Kinross Gold stock traded up $0.29 during trading hours on Friday, reaching $16.13. 28,107,900 shares of the company's stock traded hands, compared to its average volume of 15,320,698. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.22 and a current ratio of 2.83. Kinross Gold Corporation has a fifty-two week low of $7.84 and a fifty-two week high of $16.52. The firm has a market capitalization of $19.78 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.58 and a beta of 0.63. The firm's 50 day moving average is $15.35 and its 200-day moving average is $13.35.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a return on equity of 15.63% and a net margin of 21.74%. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the business earned $0.10 EPS. Kinross Gold's revenue for the quarter was up 38.5% compared to the same quarter last year. On average, analysts predict that Kinross Gold Corporation will post 0.81 earnings per share for the current year.

Kinross Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were paid a $0.03 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.74%. Kinross Gold's dividend payout ratio is presently 12.24%.

Analyst Upgrades and Downgrades

KGC has been the subject of a number of recent analyst reports. BMO Capital Markets started coverage on shares of Kinross Gold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Wall Street Zen upgraded shares of Kinross Gold from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 18th. Royal Bank Of Canada raised their target price on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Jefferies Financial Group raised shares of Kinross Gold from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $14.00 to $18.00 in a research note on Thursday, June 26th. Finally, Raymond James Financial upgraded shares of Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research note on Monday, June 30th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $18.00.

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.