Andra AP fonden Boosts Stock Position in Kinross Gold Corporation $KGC

Andra AP fonden raised its holdings in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 867,872 shares of the mining company’s stock after purchasing an additional 78,900 shares during the period. Andra AP fonden’s holdings in Kinross Gold were worth $20,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KGC. Allianz Asset Management GmbH boosted its stake in Kinross Gold by 17.0% during the 2nd quarter. Allianz Asset Management GmbH now owns 9,596,638 shares of the mining company’s stock valued at $227,141,000 after acquiring an additional 1,395,576 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Kinross Gold in the 1st quarter worth about $2,263,000. U S Global Investors Inc. raised its stake in shares of Kinross Gold by 95.4% in the 1st quarter. U S Global Investors Inc. now owns 195,363 shares of the mining company’s stock valued at $5,962,000 after purchasing an additional 95,363 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Kinross Gold by 4.7% during the fourth quarter. TD Asset Management Inc now owns 5,879,190 shares of the mining company’s stock worth $165,814,000 after purchasing an additional 261,861 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Kinross Gold during the second quarter worth about $217,800,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Kinross Gold Stock Performance

Shares of NYSE:KGC traded up $0.52 during trading on Tuesday, hitting $28.31. 2,449,308 shares of the company traded hands, compared to its average volume of 9,376,349. The company has a quick ratio of 1.95, a current ratio of 2.89 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $27.46 and its 200-day moving average is $28.48. The stock has a market capitalization of $33.54 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.68 and a beta of 0.84. Kinross Gold Corporation has a one year low of $22.01 and a one year high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the business posted $0.44 EPS. Kinross Gold’s revenue was up 29.5% on a year-over-year basis. As a group, equities analysts predict that Kinross Gold Corporation will post 2.56 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. Kinross Gold’s payout ratio is currently 6.06%.

Analyst Upgrades and Downgrades

KGC has been the subject of several research analyst reports. Scotiabank lowered their price objective on Kinross Gold from $45.00 to $41.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 14th. ATB Cormark Capital Markets raised Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Friday, July 31st. Royal Bank Of Canada decreased their target price on Kinross Gold from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered Kinross Gold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research upgraded Kinross Gold from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.43.

Kinross Gold Profile

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company’s operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.