Kinross Gold Corporation $KGC Stock Position Lifted by Avanza Fonder AB

Avanza Fonder AB raised its stake in Kinross Gold Corporation (NYSE:KGC) (TSE:K) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 123,393 shares of the mining company’s stock after buying an additional 20,159 shares during the quarter. Avanza Fonder AB’s holdings in Kinross Gold were worth $3,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KGC. Caitlin John LLC purchased a new position in shares of Kinross Gold during the 3rd quarter valued at $26,000. Virtus Advisers LLC purchased a new stake in shares of Kinross Gold during the third quarter worth $28,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of Kinross Gold during the third quarter worth $29,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Kinross Gold during the third quarter valued at $31,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Kinross Gold by 85.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,280 shares of the mining company’s stock valued at $32,000 after purchasing an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Analysts Set New Price Targets

KGC has been the topic of several research reports. Scotiabank upped their target price on Kinross Gold from $32.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price target on shares of Kinross Gold in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce set a $54.00 price target on Kinross Gold in a research note on Wednesday, February 4th. Wall Street Zen upgraded Kinross Gold from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Finally, Desjardins initiated coverage on shares of Kinross Gold in a research report on Friday, November 28th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.56.

Kinross Gold Stock Performance

NYSE:KGC opened at $27.90 on Wednesday. The firm has a market capitalization of $33.41 billion, a PE ratio of 14.23, a PEG ratio of 1.36 and a beta of 0.73. Kinross Gold Corporation has a 1 year low of $11.12 and a 1 year high of $39.11. The company has a current ratio of 2.35, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s fifty day simple moving average is $33.49 and its 200 day simple moving average is $28.64.

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

Kinross Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Wednesday, March 11th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.16 annualized dividend and a dividend yield of 0.6%. This is a boost from Kinross Gold’s previous quarterly dividend of $0.04. Kinross Gold’s payout ratio is presently 8.16%.

About Kinross Gold

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.