Kinross Gold Corporation $KGC Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has reduced its stake in Kinross Gold Corporation by 2.5%, holding approximately 734,478 shares valued at $8,565,000 after selling 18,703 shares in Q1.
• Kinross Gold reported an earnings per share (EPS) of $0.44 for the last quarter, surpassing analysts' expectations and reflecting a 41.7% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.03, which translates to a 0.6% dividend yield, with a payout ratio of 9.68%.

APG Asset Management N.V. decreased its stake in shares of Kinross Gold Corporation (NYSE:KGC - Free Report) TSE: K by 2.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 734,478 shares of the mining company's stock after selling 18,703 shares during the quarter. APG Asset Management N.V. owned about 0.06% of Kinross Gold worth $8,565,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Kinross Gold during the first quarter worth approximately $55,000. Farther Finance Advisors LLC lifted 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 worth $71,000 after buying an additional 3,659 shares in the last quarter. Headlands Technologies LLC purchased a new position in Kinross Gold during the first quarter worth approximately $77,000. Bruce G. Allen Investments LLC lifted 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 worth $79,000 after buying an additional 2,561 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Kinross Gold by 39.3% during the first quarter. SBI Securities Co. Ltd. now owns 6,339 shares of the mining company's stock worth $80,000 after buying an additional 1,787 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company's stock.

Kinross Gold Price Performance

NYSE:KGC opened at $19.74 on Tuesday. Kinross Gold Corporation has a 52 week low of $8.31 and a 52 week high of $19.82. The company has a quick ratio of 1.45, a current ratio of 2.84 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $23.99 billion, a P/E ratio of 15.92, a P/E/G ratio of 0.65 and a beta of 0.55. The stock's fifty day moving average is $16.72 and its two-hundred day moving average is $14.47.

Kinross Gold (NYSE:KGC - Get Free Report) TSE: K last posted its earnings results on Wednesday, July 30th. The mining company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.52 billion. Kinross Gold had a return on equity of 20.04% and a net margin of 25.18%.The company's revenue for the quarter was up 41.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. Equities analysts expect that Kinross Gold Corporation will post 0.81 EPS for the current year.

Kinross Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, August 21st. Kinross Gold's payout ratio is currently 9.68%.

Wall Street Analysts Forecast Growth

KGC has been the topic of a number of analyst reports. National Bankshares reiterated an "outperform" rating on shares of Kinross Gold in a research report on Tuesday, June 24th. Raymond James Financial upgraded Kinross Gold to a "hold" rating and set a $15.00 price objective on the stock in a research report on Monday, June 30th. CIBC lifted their price objective on Kinross Gold from $21.00 to $22.00 and gave the stock an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada lifted their target price on Kinross Gold from $14.00 to $19.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Canaccord Genuity Group lifted their target price on Kinross Gold from $28.00 to $29.50 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $20.07.

About Kinross Gold

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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