9. Kinross Gold Corporation (NYSE:KGC)
Number of Hedge Fund Holders: 28
One of the top 10 gold mining firms in the world, Kinross Gold Corporation (NYSE:KGC), is situated in Canada. Between 2021 and 2023, the business expects output to rise by 38% to 2.9 million gold equivalent ounces. The organization has maintained a steady history of reaching its guidance for the past 10 years.
28 hedge funds owned positions worth $360.2 million in Kinross Gold Corporation (NYSE:KGC), up from 27 in the prior quarter and positions totaling $444.9 million, according to Insider Monkey’s database.
Given the approximately 13% fall in Kinross Gold Corporation’s stock price since the beginning of 2021 and the favorable catalysts that are expected to emerge for the firm over the following several years, this is an appealing entry point. Credit Suisse’s Fahad Tariq believes that the firm has’re-rating potential’ as a result of its excellent free cash flow forecast for 2022. The analyst gave the stock an Outperform rating on October 12.
Hedge funds are investing in Kinross Gold Corporation in addition to large-cap companies like Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Twitter, Inc. (NYSE:TWTR) (NYSE:KGC).
8. Sirius XM Holdings Inc. (NASDAQ:SIRI)
Number of Hedge Fund Holders: 26
Located in New York, Sirius XM Holdings Inc. (NASDAQ:SIRI) provides internet radio and satellite services. As of Q2 2021, 26 hedge funds have accumulated investments in the firm totaling $577.5 million, or 2.4% of its market value.
On October 19, Pivotal Research’s Jeffrey Wlodarczak reaffirmed his Buy recommendation for the company.
After the chip scarcity subsides, auto sales are predicted to increase, giving Sirius XM Holdings Inc. (NASDAQ:SIRI) a chance to attract self-paying consumers who choose the Sirius XM radio service.
On October 25, Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a cash dividend of 2.19 cents per share of common stock, a 50% increase over the dividend paid during the previous quarter. Additionally, the business outperformed analysts’ projections for the third quarter of 2021 by $0.01 for EPS and $30.98 million for sales.
Sirius XM Holdings Inc. (NASDAQ: SIRI) is one of the stocks garnering hedge fund investment, along with Twitter, Inc. (NYSE:TWTR), Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Apple Inc.
