Freedom Investment Management Inc. Purchases New Shares in Kinross Gold Co. (NYSE:KGC)

Freedom Investment Management Inc. acquired a new stake in Kinross Gold Co. (NYSE:KGC) (TSE:K) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 61,963 shares of the mining company’s stock, valued at approximately $580,000.

Other large investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in Kinross Gold during the second quarter worth about $40,000. Bright Futures Wealth Management LLC. bought a new position in shares of Kinross Gold during the first quarter worth approximately $70,000. Fifth Third Bancorp raised its position in shares of Kinross Gold by 3,524.4% in the second quarter. Fifth Third Bancorp now owns 9,641 shares of the mining company’s stock valued at $80,000 after buying an additional 9,375 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Kinross Gold by 113.1% in the second quarter. Blue Trust Inc. now owns 11,327 shares of the mining company’s stock valued at $94,000 after buying an additional 6,011 shares during the period. Finally, Corundum Trust Company INC acquired a new stake in Kinross Gold during the third quarter worth approximately $94,000. Institutional investors own 63.69% of the company’s stock.

Kinross Gold Stock Performance

Kinross Gold stock opened at $9.71 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.61 and a debt-to-equity ratio of 0.18. The stock has a market cap of $11.93 billion, a PE ratio of 15.92, a P/E/G ratio of 0.44 and a beta of 1.22. Kinross Gold Co. has a 12-month low of $4.75 and a 12-month high of $10.82. The business’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $9.00.

Kinross Gold (NYSE:KGC) (TSE:K) last announced its quarterly earnings results on Tuesday, November 5th. The mining company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.32 billion. Kinross Gold had a net margin of 15.23% and a return on equity of 11.49%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 EPS. As a group, analysts expect that Kinross Gold Co. will post 0.7 earnings per share for the current fiscal year.

Kinross Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 28th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.24%. Kinross Gold’s dividend payout ratio (DPR) is presently 19.67%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Kinross Gold from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Friday, October 4th. Scotiabank upped their price objective on shares of Kinross Gold from $9.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, StockNews.com upgraded shares of Kinross Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $11.13.

Kinross Gold Company 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.