Andra AP fonden Sells 183,300 Shares of Kinross Gold Corporation $KGC

Andra AP fonden cut its holdings in shares of Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,543,000 shares of the mining company’s stock after selling 183,300 shares during the period. Andra AP fonden owned approximately 0.13% of Kinross Gold worth $38,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC acquired a new stake in shares of Kinross Gold during the third quarter worth about $29,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Kinross Gold during the 3rd quarter worth approximately $31,000. Armstrong Advisory Group Inc. increased its stake in Kinross Gold by 95.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,467 shares of the mining company’s stock worth $36,000 after purchasing an additional 717 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Kinross Gold during the 3rd quarter worth approximately $40,000. Finally, Mather Group LLC. bought a new position in Kinross Gold in the third quarter valued at approximately $44,000. 63.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KGC has been the subject of several research reports. Zacks Research downgraded shares of Kinross Gold from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Scotiabank boosted their price objective on shares of Kinross Gold from $32.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce set a $54.00 target price on Kinross Gold in a report on Wednesday, February 4th. UBS Group set a $43.00 price target on Kinross Gold in a research note on Friday, January 30th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Kinross Gold in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.81.

Kinross Gold Stock Performance

NYSE KGC opened at $36.77 on Friday. The stock has a market cap of $44.12 billion, a PE ratio of 18.76, a P/E/G ratio of 0.39 and a beta of 0.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 2.35. The firm has a 50-day moving average of $32.83 and a 200-day moving average of $27.08. Kinross Gold Corporation has a 52-week low of $10.32 and a 52-week high of $39.11.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its earnings results on Wednesday, February 18th. The mining company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.05 billion. Kinross Gold had a return on equity of 28.22% and a net margin of 33.90%.The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, sell-side analysts anticipate that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Wednesday, March 11th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, March 11th. This is a positive change from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s dividend payout ratio (DPR) is 7.14%.

Kinross Gold Company Profile

Kinross Gold Corporation (NYSE: KGC) is a Toronto-based precious metals mining company primarily focused on the exploration, development and production of gold, with silver recovered as a by-product at some operations. The company’s activities span the full mining lifecycle, including discovery and resource delineation, mine construction and operation, ore processing, and eventual site reclamation and closure. Kinross sells refined gold produced at its processing facilities and manages associated logistics and processing arrangements to deliver metal to market.

Kinross operates a portfolio of producing mines and development projects across multiple regions, with a significant presence in the Americas and West Africa.