Avanza Fonder AB Sells 36,800 Shares of Kinross Gold Co. (NYSE:KGC)

Avanza Fonder AB trimmed its holdings in shares of Kinross Gold Co. (NYSE:KGC - Free Report) TSE: K by 28.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC boosted its position in 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 buying an additional 2,561 shares during the period. Farther Finance Advisors LLC boosted its position in Kinross Gold by 188.6% during the first 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 during the period. Capital Investment Advisors LLC boosted its holdings in shares of Kinross Gold by 3.1% during the first quarter. Capital Investment Advisors LLC now owns 27,850 shares of the mining company's stock worth $351,000 after purchasing an additional 850 shares during the period. OLD National Bancorp IN boosted its holdings in shares of Kinross Gold by 48.8% during the first quarter. OLD National Bancorp IN now owns 22,497 shares of the mining company's stock worth $284,000 after purchasing an additional 7,382 shares during the period. Finally, Vanguard Capital Wealth Advisors purchased a new stake in shares of Kinross Gold during the first quarter worth about $215,000. 63.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KGC has been the subject of a number of analyst reports. CIBC reiterated an "outperform" rating on shares of Kinross Gold in a report on Tuesday, May 13th. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a report on Wednesday, April 23rd. Scotiabank raised their price objective on shares of Kinross Gold from $16.00 to $17.00 and gave the stock a "sector outperform" rating in a report on Thursday, May 8th. National Bank Financial upgraded shares of Kinross Gold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Royal Bank of Canada raised their price objective on shares of Kinross Gold from $14.00 to $19.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Three 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $15.40.

Kinross Gold Stock Up 1.6%

Shares of NYSE KGC traded up $0.26 on Friday, reaching $15.79. 21,333,826 shares of the company's stock traded hands, compared to its average volume of 18,679,919. Kinross Gold Co. has a 12 month low of $7.20 and a 12 month high of $15.96. The business's 50 day simple moving average is $14.57 and its two-hundred day simple moving average is $12.14. The company has a market cap of $19.37 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63. The company has a quick ratio of 0.83, a current ratio of 2.01 and a debt-to-equity ratio of 0.18.

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 for the quarter, beating analysts' consensus estimates of $0.22 by $0.08. Kinross Gold had a net margin of 18.43% and a return on equity of 12.65%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 38.5% on a year-over-year basis. As a group, equities research analysts forecast that Kinross Gold Co. will post 0.81 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 29th. Kinross Gold's dividend payout ratio (DPR) is currently 12.24%.

Kinross Gold Company Profile

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.