Avanza Fonder AB cut its holdings in Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 28.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,380 shares of the mining company's stock after selling 36,800 shares during the period. Avanza Fonder AB's holdings in Kinross Gold were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bruce G. Allen Investments LLC raised its holdings in shares of Kinross Gold by 68.6% during the first quarter. Bruce G. Allen Investments LLC now owns 6,295 shares of the mining company's stock valued at $79,000 after purchasing an additional 2,561 shares during the period. Farther Finance Advisors LLC increased its position in Kinross Gold by 188.6% in the 1st quarter. Farther Finance Advisors LLC now owns 5,599 shares of the mining company's stock valued at $71,000 after buying an additional 3,659 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Kinross Gold by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after buying an additional 850 shares during the period. OLD National Bancorp IN boosted its holdings in Kinross Gold by 48.8% in the first quarter. OLD National Bancorp IN now owns 22,497 shares of the mining company's stock worth $284,000 after acquiring an additional 7,382 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Kinross Gold in the first quarter valued at approximately $215,000. 63.69% of the stock is owned by institutional investors and hedge funds.
Kinross Gold Stock Performance
Shares of KGC stock traded up $0.28 during trading on Thursday, hitting $15.54. The company's stock had a trading volume of 23,112,723 shares, compared to its average volume of 18,630,585. The company has a current ratio of 2.01, a quick ratio of 0.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $19.06 billion, a PE ratio of 20.18, a P/E/G ratio of 0.68 and a beta of 0.63. The business has a fifty day moving average of $14.42 and a 200-day moving average of $12.04. Kinross Gold Co. has a 52 week low of $7.20 and a 52 week high of $15.96.
Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last announced its earnings results on Tuesday, May 6th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Kinross Gold had a return on equity of 12.65% and a net margin of 18.43%. The business's revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. As a group, research analysts anticipate that Kinross Gold Co. will post 0.81 earnings per share for the current year.
Kinross Gold Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, May 29th. This represents a $0.12 annualized dividend and a yield of 0.77%. Kinross Gold's payout ratio is 12.24%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on KGC. CIBC reaffirmed an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, May 13th. Royal Bank of Canada raised their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. BMO Capital Markets assumed coverage on shares of Kinross Gold in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Scotiabank raised their price target on shares of Kinross Gold from $16.00 to $17.00 and gave the company a "sector outperform" rating in a research report on Thursday, May 8th. Finally, Raymond James boosted their price objective on Kinross Gold from $12.00 to $15.00 and gave the stock a "market perform" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $15.40.
Check Out Our Latest Stock Report on KGC
Kinross Gold Profile
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Free Report)
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.
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