Kinross Gold Corporation $KGC Shares Acquired by Andra AP fonden

Key Points

• Andra AP fonden increased its Kinross Gold position by 10% in the second quarter, adding 78,900 shares to own 867,872 shares valued at approximately $20.5 million. Institutional investors and hedge funds collectively own 63.69% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $38.43, despite several recent price-target reductions.
• Kinross Gold reported quarterly EPS of $0.71, exceeding estimates of $0.66, while revenue rose 29.5% year over year to $2.22 billion. The company also paid a quarterly dividend of $0.04 per share, equivalent to a 0.6% annualized yield.

Andra AP fonden increased its position in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 867,872 shares of the mining company's stock after acquiring an additional 78,900 shares during the quarter. Andra AP fonden owned approximately 0.07% of Kinross Gold worth $20,499,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC increased its stake in shares of Kinross Gold by 2.3% during the 1st quarter. Renaissance Technologies LLC now owns 25,546,413 shares of the mining company's stock valued at $779,677,000 after acquiring an additional 571,100 shares during the last quarter. Norges Bank purchased a new stake in Kinross Gold during the fourth quarter valued at about $518,656,000. Geode Capital Management LLC grew its position in Kinross Gold by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 12,987,140 shares of the mining company's stock valued at $383,694,000 after acquiring an additional 701,650 shares during the period. Man Group plc increased its stake in Kinross Gold by 7.6% during the fourth quarter. Man Group plc now owns 12,526,669 shares of the mining company's stock worth $352,751,000 after acquiring an additional 882,373 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Kinross Gold by 9.3% during the first quarter. The Manufacturers Life Insurance Company now owns 10,014,321 shares of the mining company's stock worth $305,888,000 after acquiring an additional 854,802 shares during the last quarter. 63.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KGC shares. Zacks Research raised Kinross Gold from a "strong sell" rating to a "hold" rating in a research note on Monday, September 7th. Wall Street Zen lowered shares of Kinross Gold from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Jefferies Financial Group reduced their price target on shares of Kinross Gold from $41.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on shares of Kinross Gold from $40.00 to $39.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Scotiabank dropped their price objective on shares of Kinross Gold from $45.00 to $41.00 and set a "sector outperform" rating for the company in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.43.

Kinross Gold Stock Up 1.9%

NYSE KGC traded up $0.52 on Tuesday, reaching $28.31. The company had a trading volume of 2,449,308 shares, compared to its average volume of 9,376,349. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.89 and a quick ratio of 1.95. Kinross Gold Corporation has a 1 year low of $22.01 and a 1 year high of $39.11. The firm has a 50-day moving average of $27.46 and a 200-day moving average of $28.48. The firm has a market capitalization of $33.54 billion, a PE ratio of 10.73, a P/E/G ratio of 0.68 and a beta of 0.84.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 29th. The mining company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.05. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.24 billion. Kinross Gold had a net margin of 37.52% and a return on equity of 34.00%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. On average, equities research analysts anticipate that Kinross Gold Corporation will post 2.56 EPS for the current fiscal year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 20th. Kinross Gold's dividend payout ratio is presently 6.06%.

About Kinross Gold

Kinross Gold Corporation is a Canadian gold mining company engaged in the acquisition, exploration, development and operation of gold properties. Its primary product is gold, which it produces through a portfolio of open-pit and underground mining operations, supported by processing facilities and related infrastructure.

The company's operating portfolio spans the Americas and West Africa. Its assets include the Tasiast mine in Mauritania; the Paracatu mine in Brazil; the La Coipa mine in Chile; and the Fort Knox and Round Mountain mines in the United States.

Want to see what other hedge funds are holding KGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.