Creative Planning reduced its position in shares of Kinross Gold Co. (NYSE:KGC) (TSE:K) by 52.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,340 shares of the mining company’s stock after selling 11,591 shares during the quarter. Creative Planning’s holdings in Kinross Gold were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MD Financial Management Inc. acquired a new position in shares of Kinross Gold during the 1st quarter worth $31,000. Evoke Wealth LLC raised its stake in Kinross Gold by 187.5% during the 1st quarter. Evoke Wealth LLC now owns 4,830 shares of the mining company’s stock worth $32,000 after buying an additional 3,150 shares during the period. Veritable L.P. purchased a new stake in shares of Kinross Gold in the first quarter worth approximately $67,000. Sepio Capital LP bought a new position in shares of Kinross Gold in the first quarter valued at approximately $69,000. Finally, Brookstone Capital Management bought a new position in Kinross Gold during the second quarter valued at $70,000. 44.95% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on KGC. TD Securities cut their price target on Kinross Gold from $11.50 to $11.00 and set a “buy” rating for the company in a report on Wednesday, June 23rd. Credit Suisse Group upgraded Kinross Gold from a “neutral” rating to an “outperform” rating and raised their price target for the company from $7.50 to $8.00 in a research report on Wednesday, June 23rd. Stifel Nicolaus lowered their price target on Kinross Gold from C$14.50 to C$14.25 and set a “buy” rating on the stock in a research report on Wednesday, June 23rd. TheStreet cut Kinross Gold from a “b” rating to a “c+” rating in a research note on Friday, May 28th. Finally, Canaccord Genuity reduced their price objective on Kinross Gold from C$13.50 to C$12.50 and set a “buy” rating on the stock in a research note on Friday, July 30th. Two equities research analysts have rated the stock with a hold rating, ten have given 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 $10.63.
Kinross Gold (NYSE:KGC) (TSE:K) last issued its quarterly earnings data on Tuesday, July 27th. The mining company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.02 billion. Kinross Gold had a net margin of 29.97% and a return on equity of 15.18%. As a group, equities analysts expect that Kinross Gold Co. will post 0.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 2nd. Investors of record on Thursday, August 19th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, August 18th. Kinross Gold’s dividend payout ratio is currently 15.58%.
Kinross Gold Company Profile
Kinross Gold Corp. operates as an exploration company. It engages in the production, acquisition, exploration and development of gold bearing properties in Canada, United States, the Russian Federation, Brazil, Ecuador, Chile, Ghana and Mauritania. The products are gold and silver produced in the form of dore.
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