Andra AP fonden Has $24.08 Million Position in Kinross Gold Corporation $KGC

Key Points

• Andra AP fonden cut its Kinross Gold stake by 43.2% in Q1, leaving it with 788,972 shares valued at about $24.08 million.
• Kinross Gold reported better-than-expected Q1 earnings of $0.71 per share, while revenue rose 60.8% year over year to $2.37 billion.
• Analyst sentiment remains mixed but generally positive, with an average rating of “Moderate Buy” and a consensus price target of $37.31, even as some firms downgraded the stock.

Andra AP fonden cut its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 43.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 788,972 shares of the mining company's stock after selling 599,728 shares during the quarter. Andra AP fonden owned 0.07% of Kinross Gold worth $24,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Kinross Gold during the first quarter worth $911,000. Balefire LLC lifted its stake in shares of Kinross Gold by 10.5% in the 1st quarter. Balefire LLC now owns 10,325 shares of the mining company's stock valued at $315,000 after acquiring an additional 978 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Kinross Gold by 10.5% during the 1st quarter. Parallel Advisors LLC now owns 10,284 shares of the mining company's stock valued at $314,000 after acquiring an additional 974 shares in the last quarter. AlphaCentric Advisors LLC boosted its holdings in shares of Kinross Gold by 48.3% during the 1st quarter. AlphaCentric Advisors LLC now owns 11,462 shares of the mining company's stock valued at $350,000 after acquiring an additional 3,731 shares in the last quarter. Finally, SEB Asset Management AB bought a new stake in Kinross Gold during the 1st quarter worth $12,637,000. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Kinross Gold Stock Down 0.3%

Shares of NYSE:KGC opened at $22.50 on Tuesday. The business's 50 day moving average is $26.28 and its 200 day moving average is $30.31. Kinross Gold Corporation has a 12-month low of $15.37 and a 12-month high of $39.11. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.61 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 2.84 and a debt-to-equity ratio of 0.08.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last issued its quarterly earnings data on Wednesday, April 29th. The mining company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.03. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.38 billion. Kinross Gold had a return on equity of 32.47% and a net margin of 35.99%.The business's revenue was up 60.8% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. On average, sell-side analysts forecast that Kinross Gold Corporation will post 2.65 earnings per share for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, May 21st. Kinross Gold's dividend payout ratio (DPR) is presently 6.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KGC shares. Zacks Research cut Kinross Gold from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. ATB Cormark Capital Markets raised Kinross Gold from a "hold" rating to a "moderate buy" rating in a research note on Friday, May 1st. Wall Street Zen downgraded Kinross Gold from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 24th. Jefferies Financial Group lowered their target price on Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Finally, Weiss Ratings cut Kinross Gold from a "buy (b+)" rating to a "buy (b)" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.31.

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.

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